By Abiodun JIMOH
Nigerian Breweries Plc has announced an impressive 80.85% revenue growth in its full-year 2024 financial results, with earnings rising from N599.64 billion in 2023 to N1.08 trillion in 2024. However, despite the strong top-line performance, the company recorded significant losses, reflecting the impact of economic pressures and operational costs on its bottom line.
The brewer reported a loss before tax of N182.92 billion, while taxation stood at N38.03 billion, bringing its total loss after tax to N144.88 billion for the year. Despite the challenging financial results, Nigerian Breweries’ share price currently stands at N33.00k.
Analysts attribute the company’s revenue surge to inflation-driven pricing adjustments and increased consumer spending, but high operating costs, foreign exchange volatility, and tax obligations contributed to the heavy losses. The performance highlights the ongoing struggles within Nigeria’s manufacturing sector, where rising input costs and currency devaluation continue to challenge profitability.
As the company navigates economic headwinds, investors will be keenly watching its strategic adjustments in cost management, operational efficiency, and pricing strategies to drive a return to profitability.
