Nigerian Breweries Plc has recorded a strong financial performance in the first half of 2026. The brewer’s group revenue rose 9% to N804 billion from N738 billion in H1 2025. The company also restored its retained earnings to a positive position. This marks another step in its ongoing recovery and value creation efforts.
According to its unaudited results filed with the Nigerian Exchange Limited, operating profit climbed 8% to N164 billion. It stood at N152 billion during the same period last year. However, selling, distribution and administrative expenses increased by 20%. Despite this rise, lower net finance expenses supported an 18% increase in profit before tax.
Meanwhile, profit after tax grew by 5% to N193 billion. It rose from N161 billion in H1 2025. The company said new tax rates limited the growth in net profit. Still, gross profit margin improved by two percentage points. Net finance expenses also fell by 61% during the period.
Nigerian Breweries said the stronger revenue reflects its revenue management and strategic business initiatives. The company also highlighted investments in strategic brands and stronger execution across its value chain. Premium brands and the malt category also supported the performance.
“The impact of the new tax rates limited the group net profit growth to 5%,” said Uaboi Agbebaku, the company’s Secretary and Legal Director.
He added that the business remains resilient despite Nigeria’s challenging economic environment.
