The first quarter of 2026 showed renewed momentum for Nigerian Breweries Plc, as it strengthened earnings and enforced cost discipline.
Nigerian Breweries Strong Start To 2026
Profit after tax rose to ₦55.95bn, increasing 25.6% from ₦44.55bn in 2025.
Meanwhile, revenue grew by 8% to ₦413.02bn, up from ₦383.64bn last year.
This growth came from improved pricing, stronger premium brands, and sustained expansion initiatives.
Rising Costs, Stronger Margins
However, the company also faced rising costs during the quarter.
Cost of sales climbed to ₦233.16bn, compared with ₦216.05bn in the previous year.
In addition, selling, distribution, and administrative expenses increased by 14.2% to ₦93.41bn.
The company drove this increase through higher spending on brand visibility and market expansion.
Despite these pressures, management controlled costs tightly and protected profit margins.
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Notably, net finance expenses dropped by 55%, which significantly boosted overall earnings.
Focus On Stability And Growth
According to Company Secretary Uaboi Agbebaku, the company maintained strong performance despite global volatility.
Similarly, Managing Director Thibaut Boidin highlighted improved liquidity and a stronger balance sheet.
He added that stronger cash flow enabled the company to settle outstanding borrowings.
Looking ahead, the company will prioritise execution, cost control, and efficient cash management.
At the same time, it will strengthen risk management to navigate uncertainty linked to the Middle East crisis.
