Nigerian Breweries Plc has said it posted a profit of N8.47bn for the third quarter of the 2021 financial year, compared to N7.1bn in the same period of 2020.
The company’s revenue rose to N309.22bn from N234.02bn in the corresponding period in 2020, according to a statement signed by the Company Secretary/Legal Director, Nigerian Breweries, Uaboi Agbebaku.
Its cost of sales rose by 37.9 per cent from N144.1bn in 2020 to N198.74bn in the period under review in 2021, while marketing, distribution, and administration expenses also grew by 27.2 per cent from N67.86bn in 2020 to N86.32bn in 2021.
According to the statement, the board of directors of the company approved an interim dividend of N3.23bn payable to shareholders at 40 kobo each per ordinary share of 40 kobo.
The company said it remained committed to its strategy to deliver improved growth as it continued to monitor the business environment and remain dynamic in its response to challenges confronting the business, as well as that of the economy, particularly in the face of COVID-19 pandemic.
Agbebaku said the company would continue to deploy cost-efficient measures to keep the balance sheet strong and healthy while ensuring the protection of the health, safety and welfare of its employees, customers and partners.
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