Following the impressive earnings performance of Nigeria Breweries Plc, for the first quarter ended March 31, 2025, stakeholders in the capital market have commended the brewer efforts towards profitability after the foreign exchange challenges that affected its performance in 2023 and 2024 financial year.
According to stockbrokers and market analysts, the improved growth in earnings, points to a return to the days of rewarding shareholder value but also points to stability and growth in the brewery industry.
Highlights of Nigerian Breweries, first quarter financial result for 2025, shows Total Assets grew to N1.144 billion in 2025, compared to N1.138 billion for the same period in 2024.
Revenue soared to N383.64 billion, resulting in a gross profit of N166.57 billion. Profit after tax for the period was N44.55 billion, a significant improvement compared to a loss of N52.09 billion that was recorded in first quarter of 2024. Earnings per share stood at N1.43 kobo, up from a drop of N5.07 kobo for the same period in the previous year.
Commenting on the result, a senior stockbroker and Managing Director of Crane Securities, Mike Eze, commended the quick return to profitability of the company and was optimistic the results will spur increased capital market activities in the company share on the floor of Nigeria Exchange Limited.
Ehile he urged the management to sustain the performance for increased shareholder value. “Nigerian Breweries is a top performer in the Nigerian Exchange and the misfortunes of the past two years affected the Nigerian capital market quite significantly”.
Eze explained that “people’s confidence was shaken, and although the results were not impressive, I was one of the people that spoke at the time and I recall I expressed confidence that the company, given its track record, was going to bounce back and prove once again that it is a business worth investing for the long haul,”
On his part, the Chief Executive Officer of Francona Services, an Abuja-based investment analyst, Chibueze Onah, commended Nigerian Breweries for navigating the headwinds of forex-induced challenged and for steering the brand back to profitability.
Onah, who attributed the past negative financial results by the company to mostly external factors, said with the relative stability in the foreign exchange market, companies like Nigerian Breweries whose businesses are directly affected by exchange rate volatility, will experience significant performance uplifts.
He pointed out that “the volat6ile nature of the forex market in Nigeria over the past two years destabilized a lot of businesses, irrespective of size and scale. It was nearly impossible to plan and project, as everything from capital to inputs became subject to the shockwaves of conditions that were intractable”.
Stressing that with the increasing stability of the market, businesses are able to plan better and organize their resources in the directions of value returns.
“It is therefore gladdening to see Nigeria’s giant brewer posting positive numbers and investors are more certain of sustained results going towards the end of the year,” he stated.
Adding that the company cost-containment measures was commendable, saying that with increased efficient utilization of capital and other resources, shareholders will experience a sustained enhancement in performance.
