Champions breweries Q1 profit falls by 30%


Champions breweries plc in its financial report records NGN1.1 billion revenue for fisrt quarter 2017 compared to NGN871.9 million recorded in the previous year.

The brewer’s costs of sales for the period was NGN886.3 million against NGN606.2 million recorded in 2016.

The company recorded NGN220.1 million gross profit against NGN265.6 million recorded in 2016. Its operating profit for the period was NGN36.1 million in 2017 in contrast NGN67.3 million recorded in Tue previous year.

Champions breweries said its profit before tax was NGN39.1 million in 2017 against NGN57.1 million recorded in 2016.

After settling its tax for the period, its profit for the period fell by 30% to NGN39.5 million in contrast to NGN57.1 million recorded in the year before.

The company  recorded NGN9.9 billion assets in the period in year against NGN9.3 billion recorded in fiscal year 2016 while its total liabilities remained at NGN2.2 billion same as last year.

For more details on the report, click here>>>

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