NB declares N7.9bn interim dividend as profit declines in Q3

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THE Board of Directors of Nigerian Breweries Plc has  declared an interim dividend of N7.929 billion, that is N1.00 (One Naira) per ordinary share of 50 kobo in the share capital of the company for the nine month period ended 30th September 2016.

This is despite the marginal decline in the company’s profit for theperiod occasioned by the current challenging environment.

This was revealed in a corporate filing of the company’s results at the Nigerian Stock Exchange, NSE.The statement signed byits Company Secretary/Legal Adviser,Mr. Uaboi Agbebaku, shows a four percent year-on-year rise in the revenue from N214. 92 billion in 2015, to N222.72 billion.

However, its operating profit declined by 11 per cent from the N42.766 billion to N37.962 billion, a situation the company attributed to higher input costs as a result ofrising inflation combined with the devaluation of the Naira.

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