Nigeria Breweries Plc has released its financials for the full year ended December 31, 2018 with a disappointing after tax profit (PAT) of N29.42billion as against N46.63billion in 2017, representing a decline 36.9percent.
The brewer posted net revenue of N324.38billion in 2018 against N344.52billion in 2017, down by 5.8percent.
The company recorded Gross Income of N126.90billion from a high of N143.49billion, representing a decline of 11.6percent.
Its Profit Before Tax (PBT) of N29.42billion in 2018 as against N46.63billion in 2017, implies a decline of 36.9percent; while Profit After Tax (PAT) stood lower at N19.43billion against N33.04billion in 2017, which implies a decline of 41.2percent.
Iheanyi Nwachukwu
Iheanyi Nwachukwu
Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos.
Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).
Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.
