Nigerian Breweries Plc has reported a 33 percent increase in profit after tax to ₦114.1 billion for the nine months ended September 30, 2026. This growth was supported by improved gross margins and a sharp reduction in finance expenses. The company's revenue rose 5 percent to ₦1.10 trillion, while gross profit increased 15 percent to ₦477.9 billion.
The brewer's profit after tax grew significantly, supported by a 78 percent reduction in net finance expenses. This decline in finance expenses eased the cost burden on earnings, contributing to the company's improved bottom-line performance. Results from operating activities grew 10 percent to ₦179.2 billion, while profit before tax advanced 33 percent to ₦171.7 billion.
Nigerian Breweries attributed its performance to market-share gains, particularly in the premium segment led by brands such as Heineken and Desperados. Despite continued pressure on consumer disposable income, the company achieved growth in revenue and profitability. The company's managing director and chief executive officer, Thibaut Boidin, highlighted the strength of the company's brand portfolio and improved gross margin as key factors.
Nigerian Breweries returned to profitability in the third quarter, recording a net profit of ₦21 billion for the three months ended September 30, 2026. This marks a turnaround from a net loss of ₦4 billion in the corresponding period of 2025. The result ended a run of third-quarter losses recorded by the company since 2022.
However, Boidin noted that the return to profit came despite declines in both volumes and net revenue during the quarter. He attributed the positive result to the strength of the company's brand portfolio, improved gross margin, and lower finance expenses. Boidin emphasized that the company's nine-month performance reflects its resilience and disciplined execution of priorities.
Nigerian Breweries has also strengthened its financial position through cash generation and working-capital management. The company's net cash position at the end of September provided a stronger base for funding operations. Boidin stated that the company would sustain its focus on cost control, investment in its brands, and cash management as it navigates the remaining months of the financial year.
Despite the demanding operating environment, Boidin expressed confidence in the strength of the business and maintained a positive outlook for the full year 2026. The company's performance is a significant milestone in its recovery, with a focus on sustaining growth and profitability in the future.
Key points
- Nigerian Breweries reports 33% increase in profit after tax to ₦114.1bn for nine months ended September 30, 2026.
- The company's revenue rose 5 percent to ₦1.10 trillion, while gross profit increased 15 percent to ₦477.9 billion.
- Nigerian Breweries returned to third-quarter profitability, posting a ₦21bn profit and reversing a ₦4bn loss in the same period of 2025.