In the first six months of the year so far, major beverage companies have increased their revenues compared to the same time as last year. This is despite high inflation and other problems affecting the business community, which shows Nigerians have not lost their thirst for drinks.
We’ll review the financial reports of beverage companies listed on the Nigerian stock exchange – Guinness Plc, Nigerian Breweries, International Breweries, Champion Breweries to reveal the brewers earning the biggest bucks so far.
These companies recorded N1.01 trillion in revenue in the first half of the year compared to N628.51 billion in the previous quarter.
01. Champion Breweries: in the first half of the year so far, the producers of Champion Malt, and Premium Lager Beer recorded revenues to the tune of N9.54 billion- an increase of 67.3% from the N5.70 billion in the same period of 2023.
02. International Breweries: between January and June, International Breweries Plc generated N223.19 billion in revenues so far. In the corresponding period of 2023, it recorded N116.13 billion – marking an increase of N107 billion over one year.
03. Guinness Plc– the makers of Origin Bitters stands at the second highest-grossing beverage company in Nigeria. It increased its revenues in the first six months of the year from N229.44 billion to 299.49 billion indicating a rise of 30.5% when compared to the first half of 2023.
04. Nigerian Breweries– Nigeria’s pioneer brewery, NB Plc recorded the highest revenues in the first half of the year among its contemporaries in Nigeria. The company posted a whopping N478.83 billion in the first half of the year- an impressive rise of N201.49 billion compared to 2023.
Drinkabl Deep Drive aims to unpack key issues and trends in Nigeria’s beverage industry. Subscribe to our newsletter to for more insights.
