Nigerian Breweries records profit of N18bn 2Q

Nigerian Breweries Plc has announced a Profit after Tax of N18 billion for the first half of 2018, according to the unaudited financial results released to The Nigerian Stock Exchange.
The N18 billion represents a 22 per cent decrease over the N24 billion recorded in the corresponding period in 2017.
An analysis of the filing sent to The Nigerian Stock Exchange indicated that The Company’s revenue dipped by 5 per cent from N181 billion in the same period in 2017 to N173 billion in the current period.
A further analysis of the statement show that results from operating activities declined by 20 per cent from N39 billion in 2017 to N32 billion in the corresponding months in 2018, just as Profit before Tax also dropped by 19 per cent from N34 billion in 2017 to N28 billion in the period under review.
The company recorded net revenue of N172.659 billion from N180.981 billion recorded the previous year while gross profit gross profit declined from N81.804 billion reported in 2017.
to N76.081 billion at the end of June 2018.

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