By Charles Pemu 
LAGOS — Nigerian Breweries Plc (NB Plc), the country’s leading brewing enterprise, has reported a stellar financial performance for the nine months concluding September 30, 2025. Unaudited results filed with the Nigerian Exchange (NGX) Limited show that Group Revenue escalated by 47.9 per cent to an unprecedented N1.04 trillion, significantly up from N703 billion recorded in the corresponding period of 2024.
This robust top-line expansion, driven by strategic pricing and a strong premium product portfolio, was the primary factor behind a staggering 157 per cent increase in net profit for the nine-month period.
The company achieved this profitability despite prevailing macroeconomic challenges, including high double-digit inflation and escalating input costs that continue to suppress consumer purchasing power.
While the Cost of Sales and operational expenses (Marketing, Distribution, and Administration) rose to N627 billion (from N495 billion) and N254 billion (from N184 billion) respectively, the brewer successfully leveraged cost management and supply chain efficiencies to optimize its operations.
Company Secretary/Legal Director, Mr. Uaboi Agbebaku, confirmed that the performance was bolstered by market consolidation, strategic premiumisation, and enhanced route-to-market strategies. He credited the substantial net profit surge to the synergy of strong operating profit and significantly lower net finance costs. Furthermore, the successful 2024 Rights Issue programme was highlighted as a critical factor in achieving this positive financial turnaround, suggesting effective debt reduction and capital structure optimization.
Quarterly Setback and Positive Outlook
The third quarter of 2025, however, saw a temporary dip. As anticipated, a seasonal decline in market demand, coupled with a specific one-off impairment charge related to the integration of the subsidiary, Distell Wines and Spirits Nigeria Limited, resulted in a net loss for Q3 alone.
Despite this quarterly setback, the Board expressed confidence in a rebound during the final quarter of the year, driven by the customary peak demand from year-end festivities. The full-year results are thus projected to remain positive, reaffirming the company’s strategic recovery trajectory.