Champion breweries profit rose by 114% in Q2

SoftBev

Champion Breweries Plc, maker of the popular Champion beer said that in the second quarter, its net profit grew by 114% to NGN46.5 million compared to NGN21.7 million recorded same period 2016.

The brewery ended the quarter with increased revenue of NGN1.1 billion compared to NGN957.9 million posted the previous year and costs of sales was higher at NGN896.8 million against NGN732.9 million in the year before.

Champion Breweries said gross profit rose to NGN287.9 million from NGN225.0 million in the financial year 2016 while operating profit increased to NGN54.9 million against NGN16.0 million in the previous year.

Total assets lowered to NGN9.8 billion in q2 2017 compared to NGN9.9 billion in the previous year while total liabilities also lower to NGN2.0 billion versus NGN2.2 billion in 2016.

Company information

Champion Breweries Plc was incorporated as a Private Limited Liability Company on the 31st of July, 1974 with the same South East Breweries Limited. The Company’s name was changed from South East Breweries Limited to Cross River Breweries Limited and thereafter to Champion Breweries Limited. The latter name, Champion Breweries Limited was changed to Champion Breweries Plc on the 1st of September, 1992.

Champion Breweries Plc maintains its high-quality Champion Lager Beer brand which remains a pride to the people of Akwa Ibom and neighbouring states within the South-South region of Nigeria.

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