The Board of Directors of Nigerian Breweries Plc has
announced a revenue of N254.7 billion for nine (9) months ended September 30,
2017. In the statement of the result sent to Nigerian Stock Exchange, the Board
of the Company further announced the declaration of an interim dividend of
N7,996,902,051 (Seven billion, nine hundred and ninety six million, nine
hundred and two thousand and fifty one naira only), which is, N1.00 (one naira
only) per ordinary share of fifty kobo in the share capital of the company.
An analysis of the unaudited and provisional result shows
that results from operating activities grew from N37.9 billion to N42.3
billion, Profit before tax rose from N27.8 billion to N34.4 billion while
Profit after tax grew improved to close at N23.9 billion from the N20.1 billion
posted in the same period in 2016.
While commenting on the results, the Company Secretary/Legal
Adviser, Nigerian Breweries Plc, Mr. Uaboi Agbebaku said “despite the continued
challenging business environment, revenue in the first nine months of the year
grew compared to the corresponding period in 2016”. He added that as a result
of the Company’s continued focus on internal efficiencies under its Cost
Leadership programme, results from operating activities improved, which
combined with lower Net Finance Charges resulted in increased profitability in
the period.
It added that the interim dividend is payable subject to
deduction of withholding tax at the appropriate rates, on Thursday, 23rd
November, 2017 to all shareholders registered in the books of the Company
at the close of business on Wednesday, 15th November, 2017.
In the statement signed by Mr. Agbebaku, the Board
maintained that whilst the operating environment for the remainder of the year
is expected to remain challenging, it is confident that, barring unforeseen
circumstances, the Company is well placed to deliver a good return on
investment to shareholders.
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