Nigerian Breweries Says 2020 Pretax Profit Dips -50.43%

By Yakubu LAAH InvestAdvocate

Image Credit: NB Plc

Lagos (INVESTADVOCATE)-Beer maker, Nigerian Breweries Plc on Friday said its 2020 pretax profit  for the full year ended December 31 2020 declined -50.43 percent to N11.6 billion from N23.4billion recorded a year earlier.

Post-tax profit for the review period also dipped 54.25 percent to N7.4 billion from N16.1 billion in the same period of 2019

Gross profit also depreciated 9.6 percent to N118.7 billion from N131.2 billion posted the corresponding period of 2019.

However, revenue of the brewer grew slightly from N323.0 billion in 2019 end to N337.0 billion in the review period of 2020; indicating a growth of 4.35 percent, the brewing giant said in a filing with the Nigerian Stock Exchange (NSE).

Click here to read PDF copy of Nigerian Breweries Plc full Year 2020 from Cowry asset Research

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