Nigerian Breweries posts N23.9 billion PAT in 9 months
By NGOZI Onyeakusi …..
Nigerian Breweries Plc. has posted Profit after tax of N23.9 billion for the nine months ended September 30, 2017, from the N20.1 billion posted in the same period in 2016.
According to firms filing with the Nigerian Stock Exchange (NSE), the Board of the Company has announced the declaration of an interim dividend of N7.9 which is, N1.00 per ordinary share of fifty kobo in the share capital of the company.
An analysis of the unaudited and provisional result shows that results from operating activities grew from N37.9 billion to N42.3 billion, Profit before tax rose from N27.8 billion to N34.4 billion while
Commenting on the firm’s performance, the Company Secretary/Legal Adviser, Nigerian Breweries Plc, Mr. Uaboi Agbebaku said “despite the continued challenging business environment, revenue in the first nine months of the year grew compared to the corresponding period in 2016”.
He added that as a result of the Company’s continued focus on internal efficiencies under its Cost Leadership programme, results from operating activities improved, which combined with lower Net Finance Charges resulted in increased profitability in the period.
It added that the interim dividend is payable subject to deduction of withholding tax at the appropriate rates, on Thursday, 23rd November, 2017 to all shareholders registered in the books of the Company at the close of business on Wednesday, 15th November, 2017.