Nigerian Breweries declares N10.72bn loss in Q1 2023

Nigerian Breweries Plc in its first quarter report for the period ended 31 March 2023, reported a turnover of N123.31 billion. This represents a decline of 10.49% from N137.77 billion reported in Q1 2022.

Loss after tax of N10.72 billion was reported for the 3 months period as against the N13.61 billion profit achieved the previous year.

The Earnings per share of the Group stands at -N1.04.

At the share price of N36.5, the P/E ratio of Nigerian Breweries stands at -35x with earnings yield of -2.86%.

Commenting on the Q1 2023 result, Nigerian Breweries stated thus:

The operating environment during the period under review was very challenging for businesses. The impact of the cash crunch which led to a near collapse of payment channels as well as the security and safety uncertainties associated with the general elections, created disruptions in the economy. These were in addition to the continuing headwinds of inflationary pressure with its impact on purchasing power, input cost, and operating expenses.

The total brewed product market suffered a double-digit (mid-twenties) volume decline versus the same period in 2022. We were able to largely mitigate the volume decline impact on our Revenue due to our appropriate pricing strategy. Our Operating Profit was further impacted by a one-off reorganisation cost with a view to refreshing and restructuring the business to cope with current challenges for a sustainable future.

The Board remains committed to creating long-term and sustainable value for our Shareholders.

Source: Nigerian Breweries declares N10.72bn loss in Q1 2023 – StocksWatch (

Related Posts


Business & Economy


Welcome to the Elite Wealth Placement Fund – a bespoke investment vehicle designed exclusively for high-net-worth individuals seeking attractive and tailored placement opportunities. Our fund is managed by a team of seasoned financial experts with a proven track record of delivering superior returns, while prioritizing risk management and long-term wealth preservation. As an exclusive member, you will […]


Business & Economy

PZ Cussons Nigeria Plc reports N113bn revenue, boosts profit after tax by 114% in one year

The Audited Financial Statement of PZ Cussons for the year ended 31 May 2023 show significant growth in the Company’s bottom line figures with 114% growth in its profit after tax for the 12 months period. The Group reported revenue of N113.964 billion for the 12 months period, up by 14.53% from N99.503 reported the previous year.[…]