Nigerian Breweries Plc has released its audited Group Financial Statements for the financial year ended December 31, 2024, recording an impressive revenue of N1.1 trillion. This represents a massive 81 percent increase on the N599.6 billion recorded in the corresponding period in 2023.
A further breakdown of the audited results revealed a significant 51 percent growth in group gross profit from N212.6 billion in 2023 to N320 billion in 2024. The operating profit equally grew significantly by 59 percent from N44 billion to N70 billion during the period in spite of the challenges of huge increase in input costs.
Speaking on the results, Hans Essaadi, Managing Director/CEO, Nigerian Breweries Plc said the impressive year-on-year revenue growth was largely driven by strategic pricing initiatives, market expansion, successful innovations, and operational efficiencies.