Shareholders hail NB Plc’s dramatic turnaround amid tough economy

Shareholders of Nigerian Breweries Plc have commended the company’s board and management for delivering a strong financial recovery in the 2025 financial year, citing improved profitability and tighter cost controls as key drivers of the turnaround.

The commendation came at the company’s 80th Annual General Meeting (AGM) held in Lagos, where investors acknowledged the brewer’s resilience in navigating a challenging macroeconomic environment marked by inflationary pressures and currency volatility.

Speaking at the meeting, former Secretary of the Independent Shareholders Association of Nigeria, Eke Emmanuel, said the company’s return to profitability and strengthened cash position underscored effective leadership and strategic discipline.

He noted that the brewer’s performance was particularly significant given the difficult operating climate that forced several companies to scale down or exit the Nigerian market.

Similarly, a member of the Noble Shareholders Association, Owolabi Opeyemi, praised the company for reversing the negative cash position recorded in the previous two years, describing the recovery as a testament to prudent management and operational resilience.

In her address, Board Chair, Juliet Anammah, said the company had regained stability following earlier losses triggered by macroeconomic headwinds and fiscal policy adjustments.

She expressed confidence that the brewer is firmly on a recovery trajectory, supported by its strong brand portfolio, nationwide distribution network, and ongoing digital transformation initiatives.

According to her, these structural strengths, combined with a focus on operational efficiency, will be critical in sustaining the company’s leadership position in Nigeria’s competitive beverage market.

However, Anammah explained that no dividend would be declared for the 2025 financial year, citing the need to rebuild retained earnings affected by prior foreign exchange losses.

She assured shareholders that management remains committed to restoring dividend payments once the company’s financial position stabilises.

The board chair also cautioned that external risks, including geopolitical tensions in the Middle East and broader economic uncertainties, could influence the pace of recovery in 2026.

Despite these concerns, shareholders expressed optimism that the company’s strategic direction and improved financial discipline would sustain its rebound and position it for long-term growth.