In its half year 2017 financials, Nigerian Breweries had revenue grow by 15% to N181bn. Cost of sales rose by 20% to N100bn translating to a 10% rise in gross profit to N81bn. Profit from operations together with lower finance cost resulted to a 33% rise in pre-tax profit to N34bn, while after-tax profit grew by 25% to N24bn.
Balance Sheet numbers showed a 6% rise in total assets to N389bn, while financial liabilities dropped by 15% to N15bn. Total liabilities rose marginally by 0.5% to N211bn leading to a 13% rise in net assets to N178bn. See details below.
| Income Statement | H1 2017 | H1 2016 | % Change |
| Revenue (mn) | 181,010 | 157,374 | 15.0% |
| Cost of Sales (mn) | 99,676 | 83,391 | 20% |
| Gross Profit (mn) | 81,334 | 73,983 | 10% |
| Operating expense (mn) | 43,835 | 40,326 | 9% |
| Operating Profit (mn) | 39,317 | 33,941 | 16% |
| Net Finance Cost (mn) | (5,259) | (8,392) | -37% |
| PBT (mn) | 34,059 | 25,549 | 33% |
| Income Tax Credit/Expense (mn) | 10,308 | 6,482 | 59% |
| PAT (mn) | 23,751 | 19,067 | 25% |
| Balance Sheet | H1 2017 | FY 2016 | % Change |
| Fixed Assets (mn) | 186,237 | 191,182 | -3% |
| Total Assets (mn) | 389,208 | 367,146 | 6% |
| Cash & Cash Equivalent (mn) | 16,303 | 12,156 | 34% |
| Financial Liabilities (mn) | 15,131 | 17,871 | -15% |
| Total Liabilities (mn) | 211,244 | 210,233 | 0.5% |
| Net Assets (mn) | 177,964 | 156,913 | 13% |
| Working Capital (mn) | (56,851) | (69,696) | -18% |
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