Covid-19 recovery:NB’s revenue up 32.1 %, declares N3.23bn dividend

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Court strikes out suit against Nigerian Breweries over alleged copyright infringement
Court strikes out suit against Nigerian Breweries over alleged copyright infringement

By Peter Egwuatu

Amidst coranavirous recovery in the country, the Nigerian Breweries, NB Plc, has recorded N309.22 billion in revenues for the third quarter of  2021, Q3’21, representing an increase of 32.1 per cent  from N234.02billion recorded in the corresponding period in 2020, Q3’20, just as it declared an interim dividend of N3.23 billion.

According to the audited result sent to the Nigerian Exchange Limited, NGX , the Company’s profit grew to 8.47billion, from N7.1billion representing a 20.1 per cent rise.

READ ALSO:Banks’ borrowing from CBN rises 74% to N901bn

Other financial indicators show that cost of sales rose significantly by 37.9 per cent toN198.74billion in the period under review in 2021 from N144.1 billion in 2020  while marketing, distribution, and administration expenses also grew by 27,2 per cent  to N86.32 billion in 2021 from N67.86 billion in 2020.

The board of directors of the Company has approved an interim dividend of…



Source: Vanguard Newspaper

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