UNAUDITED AND PROVISIONAL RESULTS FOR THE FIRST QUARTER (THREE MONTHS) ENDED 31ST MARCH, 2021
The Board of Directors ("the Board") of Nigerian Breweries Plc ("the Company") hereby announces the following Unaudited and Provisional Results for the First Quarter (three months) ended 31st March, 2021:
Income Statement
Group*
Company
Group*
Company
Group
Company
31/03/2021
31/03/2021
31/03/2020
31/03/2020
Change
Change
Net Revenue
₦'million
₦'million
₦'million
₦'million
%
%
105,676
105,662
83,226
83,201
27.0
27.0
Cost of Sales
(66,005)
(66,005)
(48,335)
(48,335)
(36.6)
(36.6)
Marketing, Distribution & Admin.
(25,454)
(24,136)
(24,088)
(5.9)
(5.7)
Expenses
(25,549)
Other Income
368
368
181
181
103.3
103.3
Results from Operating Activities
14,490
14,571
10,936
10,959
32.5
33.0
Finance Income
25
25
8
8
212.5
212.5
Finance Charges
(3,001)
(3,001)
(2,647)
(2,666)
(13.4)
(12.6)
Profit Before Tax
11,514
11,574
8,297
8,301
38.8
39.4
Income Tax
(3,855)
(3,849)
(2,770)
(2,764)
(39.2)
(39.3)
Other comprehensive income, net
of tax
7,660
7,725
5,527
5,537
38.6
39.5
Total Comprehensive income for
the quarter
7,660
7,725
5,504
5,537
39.2
39.5
Attributable to:
Owners of the Company
7,658
7,725
5,505
5,537
39.1
39.5
Non-controlling interest
2
1
Total Comprehensive income for
7,725
5,506
5,537
the year
7,660
39.1
39.5
Earnings per Share
Basic Earnings Per Share (kobo)
96
97
69
69
39.1
40.6
Fully Diluted Earning P/Share (kobo)
96
97
69
69
39.1
40.6
The detailed Financial Statements for the year are available on the Company's website, www.nbplc.com/investor-relations.
*Group results include the figures of 234 Stores Limited and Benue Bottling Company Limited, a non-functioning subsidiary of the Company.
COMMENTS
The impact of Coronavirus (Covid-19) pandemic on the economy and by implication, the Company continued during the period under review. Our priority remained protecting the health, safety and welfare of employees, customers and partners. We regularly monitored and evaluated the Company's financial position and performance in the light of the pandemic; our Balance Sheet remained strong. The focus of the
DIRECTORS: Chief K.B. Jamodu, CFR - Chairman; J. Borrut Bel (Spanish) - Managing Director/Chief Executive; A.O. Aroyewun (Mrs); S. Hiemstra (Dutch); R. Kleinjan (Dutch); N.O. Nwuneli (Mrs), MFR; I.M. Omoigui Okauru (Mrs), MFR; R. Pirmez (Belgian); S.L.M. Siemer (Dutch).
Board and Management remained the mitigation of the impact of the pandemic on the business.
Dated the 22nd day of April, 2021
By Order of the Board.
Uaboi G. AGBEBAKU, Esq.
Company Secretary
FRC/2013/NBA/00000001003
Iganmu House, Abebe Village Road
Iganmu, Lagos, Nigeria
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Disclaimer
NB - Nigerian Breweries plc published this content on 23 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2021 19:40:01 UTC.
Nigerian Breweries Plc is a leading Nigerian beer producer. The group's activity is organized around two families of products:
- beer: Star, Gulder, Legend, Heineken and Amstel Malta brands;
- non-alcoholic malt beverages: Fayrouz and Maltina brands.
At the end of 2021, the group had 9 breweries and 2 malting plants located in Nigeria.
Nigeria accounts for 99.9% of net sales.