Nigerian Breweries Plc has reported a nine per cent increase in group revenue to N804 billion for the first half of 2026, up from N738 billion recorded in the corresponding period of 2025.

The brewing company also returned its retained earnings to a positive position, signalling further improvement in its financial position amid efforts to strengthen operations and drive sustainable growth.

The unaudited financial statements for the six-month period ended June 30, 2026, released on the Nigerian Exchange Limited (NGX), showed that operating profit rose by 8 per cent to N164 billion from N152 billion recorded in the same period last year.

The improvement came despite a 20 per cent increase in Selling, Distribution and Administration Expenses during the period.

Nigerian Breweries also recorded a significant reduction in net finance expenses, which contributed to an 18 per cent increase in Profit Before Tax.

Profit After Tax, however, grew by five per cent, rising from N161 billion in the first half of 2025 to N193 billion in the review period, as the implementation of new tax rates moderated the company’s bottom-line growth.

In a statement signed by the company’s Secretary and Legal Director, Uaboi Agbebaku, the brewer said the performance reflected its ability to remain resilient despite persistent macroeconomic pressures.

Agbebaku attributed the revenue growth to the company’s revenue management measures and other strategic initiatives implemented across the business.

He said the company maintained its focus on investing in key brands, improving execution across its value chain and strengthening the performance of its premium brands and malt category.

“Gross profit margin expanded by two percentage points, while results from operating activities increased by eight per cent. Profit before tax rose by 18 per cent, supported by a 61 per cent reduction in net finance expense,” Agbebaku said.

He added that the effect of the new tax rates moderated the growth in the company’s net profit to five per cent.

The company said the results underscore the progress being made through its ongoing recovery and value-creation initiatives as it continues to navigate Nigeria’s challenging economic environment.