Nigerian Breweries Plc – Initial Impression

Nigerian Breweries Plc released its Audited Financial Statements for the Year ended December 31, 2015 on the 11^th of February 2016. Revenue grew by 10.33% to N293.90 billion in 2015 from N266.37 billion in 2014. All other line items including profit for the year declined in the year. Expenses grew by 14.59% while financial charges grew by 42.88% to impact negatively on bottom-line figures.

Profit after tax declined by 10.50% thereby reducing earnings per share by 14.23%. Although the Company recorded a growth in revenue, it didn’t translate into growth in profit compared to previous year largely due to pressures from increased cost of sales (15.79%) and financial charges (43.70%).

The Company has proposed a final cash dividend of ₦3.60k (interim of ₦1.20k).

Our short to medium term outlook will be reviewed in our full year report which will be published shortly.

NB: Proposed Dividend (Final): N3.60 kobo per share

         Bonus: N/A

         Closure Date: 3 rd March, 2016 – 9 th March, 2016

         AGM Date: 11th May, 2016 Payment Date 12th May, 2016

         AGM Venue: Shell Hall, Muson Centre, Onikan, Lagos State