Nigerian Breweries posts N804bn revenue, N164bn operating profit in H1 2026

Nigerian Breweries Plc recorded N804 billion in net revenue and N164 billion in operating profit in the first half of 2026, despite challenging market conditions.

The brewing company disclosed this in its H1 2026 financial results released on Monday, as it marked its 80th anniversary.

According to the company, its revenue grew by 8.9 per cent during the period, while sales volume recorded a marginal 0.3 per cent increase, outperforming a declining market and category.

Operating profit also increased by eight per cent, driven by improved gross profit margins, tighter cost management and greater operational efficiency.

The company further reported an 18 per cent increase in profit after tax, while net profit rose by five per cent following the implementation of Nigeria’s new tax law.

Nigerian Breweries also returned its retained earnings to positive territory during the period, while its cash position stood at N73 billion.

Commenting on the results, the company’s Managing Director, Thibaut Boidin, said the performance demonstrated the resilience of the business and the effectiveness of measures adopted to withstand a difficult operating environment.

“Our first-half performance reflects the resilience of our business and the strength of the measures we have put in place to navigate a challenging environment,” Boidin said.

He said the company remained focused on disciplined execution, cost optimisation and maintaining strong partnerships across its value chain while continuing to serve consumers and create sustainable value.

Boidin added that the ability to anticipate potential disruptions and respond early had become increasingly important, noting that the company’s strategy helped it manage external shocks, including the Middle East crisis, while maintaining business continuity.

“Our supplier partnerships and continued focus on cost efficiency also played an important role in this outcome,” he said.

The company said it would continue to focus on sustaining its growth, strengthening operational resilience and delivering long-term value to stakeholders as it celebrates eight decades of operations in Nigeria.