NB Plc Pays N22.287bn To Shareholders


The Nigerian Breweries Plc has grown its turnover from N185,863 billion in 2010 to N230,123 billion, which represents an increase of 23.8 per cent in its 2011 financial year ended December 31.

The result has helped the company to sustain leadership position in the Nigerian brewing industry as the board of the company has recommended a total dividend of N22,687,687.020 or N3.00 per ordinary share of 50 kobo each for the 2011 financial year.

Meanwhile, the Managing Director/Chief Executive of the company, Mr. Nicolas Vervelde, said the result included the consolidation of the three month figures of Sona Associate Business Management Limited and Life Breweries Limited, acquired in the last quarter of 2011 with those of Nigerian Breweries Plc.

Vervelde, who disclosed this at the pre-AGM media briefing of the company in Lagos, said that with this development, the brewery, packaging, marketing and sale of Goldberg Lager beer, Malta Gold and Life Continental Larger Beer, formerly owned by the two companies, will now be done by the enlarged Nigerian Breweries.

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Speaking further on the financial activities of the company, he said that the operating profit grew by N56.647 billion which represents an increase of 26 per cent over the figure of N44.967 billion recorded in 2010, while the company also recorded a profit after tax of N38.026 billion, which represents a growth of 24.4 per cent as against N30.332 billion in the previous years.

Vervelde pointed out that the volume and revenue growth for the company in 2011 were a reflection of the continuous improvement in the supply of the company’s products as well as the increased investments in its brands.

The chairman of the company, Mr. Kola Jamodu pointed out that the brewed product market is expected to continue its growth in 2012, adding, that “competition has become very intense and is expected to remain so into the year,” he said.

He said further that the company is ready for the exciting times ahead, as it is not relented in investing in human and capital assets to enable it compete at the highest level.

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