{"id":24250,"date":"2020-04-23T17:11:54","date_gmt":"2020-04-23T17:11:54","guid":{"rendered":"https:\/\/www.africa-press.com\/nigeria\/?p=24250"},"modified":"2020-04-23T17:11:54","modified_gmt":"2020-04-23T17:11:54","slug":"nigerian-breweries-q1-2020-profit-slumps-by-31","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/all-news\/nigerian-breweries-q1-2020-profit-slumps-by-31","title":{"rendered":"Nigerian Breweries\u2019 Q1 2020 profit slumps by 31%"},"content":{"rendered":"<p>Nigeria\u2019s oldest and biggest brewer, Nigerian Breweries Plc Thursday reported a 30.93% fall in its earnings for First Quarter 2020, compared to the corresponding period of 2019.<\/p>\n<p>The highlights of the company\u2019s performance are published in its unaudited and provisional results for the period under review, posted on the Nigerian Stock Exchange (NSE) today.<\/p>\n<p>Net Revenue dipped by 0.09%, moving from N83.277 billion at Q1 2019 to N83.204 billion in the corresponding period of this year.<\/p>\n<p>Profit Before Tax plunged to N8.275 billion at Q1 2020 from N11.458 billion, translating to a 27.46% drop.<\/p>\n<p>Total Comprehensive Income for the Period shrank by 30.93% from N8.026 billion at Q1 2019 to N5.506 billion.<\/p>\n<p>Earnings Per Share (EPS) similarly plummeted by 30.93% to N0.69 from N1 at Q1 2019.<\/p>\n<p>On the expenditure side, Nigerian Breweries\u2019 Marketing, Distribution &amp; Admin Expenses escalated by 13.88%, jumping from N21.154 billion to N24.136 billion in between the periods.<\/p>\n<p><a href=\"https:\/\/en.wikipedia.org\/wiki\/Nigerian_Breweries\" target=\"_blank\" rel=\"nofollow noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/en.wikipedia.org\/wiki\/Nigerian_Breweries&amp;source=gmail&amp;ust=1587747183827000&amp;usg=AFQjCNFTh0E7Dp2cao6WyMPQqVujzkLfpg\">Majority-owned<\/a>\u00a0by Amsterdam-based\u00a0<a href=\"https:\/\/www.theheinekencompany.com\/our-company\" target=\"_blank\" rel=\"nofollow noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.theheinekencompany.com\/our-company&amp;source=gmail&amp;ust=1587747183827000&amp;usg=AFQjCNGtOwzc1i3flapNITfOXkKDU-AtkA\">Heineken Brouwerijen B.V<\/a>., Nigerian Breweries today operates 11 breweries, two malting plants and 26 sales depots within the country.<\/p>\n<p>Its asset base as of 30 December, 2019 was about N382.504 billion and total equity in excess of N167.565 billion.<\/p>\n<p>With\u00a0<a href=\"https:\/\/www.investopedia.com\/terms\/o\/outstandingshares.asp\" target=\"_blank\" rel=\"nofollow noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.investopedia.com\/terms\/o\/outstandingshares.asp&amp;source=gmail&amp;ust=1587747183827000&amp;usg=AFQjCNHQ3rb162bCYklfMiTuw7fotpEAHQ\">outstanding shares\u00a0<\/a>of around\u00a0<a href=\"http:\/\/www.nse.com.ng\/Issuers-section\/listed-securities\/company-details?symbol=NB\" target=\"_blank\" rel=\"nofollow noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=http:\/\/www.nse.com.ng\/Issuers-section\/listed-securities\/company-details?symbol%3DNB&amp;source=gmail&amp;ust=1587747183827000&amp;usg=AFQjCNH-a_ybLo1Uj4E5Q0iVU4RKy0H3rA\">7.997 billion<\/a>, Nigerian Breweries EPS is N1.70 while its\u00a0<a href=\"https:\/\/www.investopedia.com\/terms\/p\/price-earningsratio.asp\" target=\"_blank\" rel=\"nofollow noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.investopedia.com\/terms\/p\/price-earningsratio.asp&amp;source=gmail&amp;ust=1587747183827000&amp;usg=AFQjCNFiwemwt2Nb9Dlq4tWOCt4zni_MJQ\">Price to Earnings (PE) ratio<\/a>\u00a0is\u00a0<a href=\"https:\/\/www.bloomberg.com\/quote\/NB:NL\" target=\"_blank\" rel=\"nofollow noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.bloomberg.com\/quote\/NB:NL&amp;source=gmail&amp;ust=1587747183827000&amp;usg=AFQjCNFwchhma2bI2ZgolT4_gMPYoFJKug\">18.84<\/a>.<\/p>\n<p>Its dividend yield, according to Bloomberg, is 6.47% while its\u00a0<a href=\"https:\/\/www.investopedia.com\/terms\/r\/returnonequity.asp\" target=\"_blank\" rel=\"nofollow noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.investopedia.com\/terms\/r\/returnonequity.asp&amp;source=gmail&amp;ust=1587747183827000&amp;usg=AFQjCNGtpuQ_G1MgvDZLtuK9TxPLpoMaRQ\">Return on Equity<\/a>\u00a0is\u00a0<a href=\"https:\/\/www.reuters.com\/companies\/NB.LG\" target=\"_blank\" rel=\"nofollow noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.reuters.com\/companies\/NB.LG&amp;source=gmail&amp;ust=1587747183827000&amp;usg=AFQjCNEY9Aqx9pQur2YdEoP7unRumHxkTQ\">4.18<\/a>.<\/p>\n<p>Nigerian Breweries closed trade today on the floor of the NSE at N34.50 per share.<\/p>\n<div class=\"abh_box abh_box_down abh_box_fancy\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Nigeria\u2019s oldest and biggest brewer, Nigerian Breweries Plc Thursday reported a 30.93% fall in its earnings for First Quarter 2020, compared to the corresponding period of 2019. The highlights of the company\u2019s performance are published in its unaudited and provisional results for the period under review, posted on the Nigerian Stock Exchange (NSE) today. Net [&hellip;]<\/p>\n","protected":false},"author":62,"featured_media":21126,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[1108,1382],"class_list":{"0":"post-24250","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-all-news","8":"category-economy","10":"tag-nigerian-stock-exchange"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Nigerian Breweries\u2019 Q1 2020 profit slumps by 31% - Nigeria<\/title>\n<meta name=\"description\" content=\"Nigeria\u2019s oldest and biggest brewer, Nigerian Breweries Plc Thursday reported a 30.93% fall in its earnings for First Quarter 2020, compared to\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/all-news\/nigerian-breweries-q1-2020-profit-slumps-by-31\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigerian Breweries\u2019 Q1 2020 profit slumps by 31%\" \/>\n<meta property=\"og:description\" content=\"Nigeria\u2019s oldest and biggest brewer, Nigerian Breweries Plc Thursday reported a 30.93% fall in its earnings for First Quarter 2020, compared to\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/all-news\/nigerian-breweries-q1-2020-profit-slumps-by-31\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2020-04-23T17:11:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2020\/02\/STOCK-750x369-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"369\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"alico\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"alico\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/nigerian-breweries-q1-2020-profit-slumps-by-31#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/nigerian-breweries-q1-2020-profit-slumps-by-31\"},\"author\":{\"name\":\"alico\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/50afd2ef4f0e900bd0a176404a8484a7\"},\"headline\":\"Nigerian Breweries\u2019 Q1 2020 profit slumps by 31%\",\"datePublished\":\"2020-04-23T17:11:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/nigerian-breweries-q1-2020-profit-slumps-by-31\"},\"wordCount\":234,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/nigerian-breweries-q1-2020-profit-slumps-by-31#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2020\/02\/STOCK-750x369-1.jpg\",\"keywords\":[\"economic growth\",\"Nigerian Stock Exchange\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/all-news\/nigerian-breweries-q1-2020-profit-slumps-by-31#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/nigerian-breweries-q1-2020-profit-slumps-by-31\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/nigerian-breweries-q1-2020-profit-slumps-by-31\",\"name\":\"Nigerian Breweries\u2019 Q1 2020 profit slumps by 31% - 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