Nigerian Breweries Plc has announced a Profit After Tax of N55.95 billion for the three months ended March 31, 2026, representing a 25.6% increase from the N44.55 billion recorded in Q1 2025. Revenue grew 8% year-on-year to N413.02 billion from N383.64 billion, according to the company’s unaudited results released on the NGX portal.
Cost of Sales for the quarter rose to N233.16 billion from N216.05 billion in the corresponding period of 2025. Selling, Distribution, and Administration expenses climbed 14.2% to N93.41 billion from N81.78 billion, driven by increased brand and sales activities.
Company Secretary/Legal Director Uaboi Agbebaku said the company delivered a strong performance in the quarter, sustaining the 2025 recovery trajectory despite a fragile and volatile operating environment worsened by the Middle East crisis. He explained that the 8% revenue growth was largely driven by strong revenue management, the performance of premium brands led by Heineken Lager, and the execution of growth initiatives
.Agbebaku attributed the rise in profitability to disciplined cost management and reduced finance expenses, noting that a 55% decrease in net finance expenses contributed significantly to the 26% growth in net profit.
Speaking on the results, Managing Director Thibaut Boidin expressed confidence in the company’s financial position, stating that the balance sheet remained strong and liquidity continued to improve. “The improved cash position supported the recent settlement of outstanding borrowings, thereby strengthening the Company’s financial position,” Boidin said.
He added that Nigerian Breweries remains focused on execution excellence, revenue optimisation, cost control, and efficient cash management to sustain momentum and deliver long-term value to stakeholders. Boidin assured stakeholders that the company would continue to intensify its focus on risk management by reviewing downside scenarios and implementing mitigation measures across key exposures to protect performance and preserve financial flexibility amidst the Middle East crisis.
