Nigerian Breweries Plc has declared a profit after tax of ₦114.1 billion, compared to ₦85.5 billion recorded in the corresponding period of 2025 for the quarter ended September 30, 2026.
An analysis of the un-audited financial statements reveals that the remarkable profitability was primarily propelled by robust revenue expansion coupled with a sharp, structural reduction in finance costs.
The company’s net revenue for the period grew to ₦1.10 trillion, up from ₦1.04 trillion reported in the first nine months of 2025. This top-line growth was achieved even as the company successfully contained its cost of sales, which slightly decreased to ₦624.76 billion from ₦631.23 billion.
The effective management of direct production costs particularly raw materials and consumables, which dropped from ₦486.88 billion to ₦465.17 billion significantly expanded the gross profit by over 15% to ₦477.90 billion, up from ₦415.15 billion in 2025.
Beyond operational efficiencies, the most critical driver of the bottom-line surge was the dramatic easing of debt-servicing burdens. Net finance costs dropped sharply to ₦7.50 billion for the nine-month period, a massive relief compared to the ₦33.66 billion recorded in the same period of 2025. Specifically, interest expenses plummeted from ₦37.4 billion down to ₦3.2 billion, reflecting the positive impact of restructuring and lower short-term debt exposure.
With operating profits climbing to ₦179.18 billion and significantly lower finance drag, the brewer’s earnings per share (EPS) strengthened correspondingly to 368 kobo, up from 275 kobo in the preceding year.
