Nigerian Breweries Plc recorded ₦804 billion in net revenue in the first half of 2026, an 8.9 per cent increase from the same period, as the brewing company marked its 80th anniversary.
The company also reported ₦164 billion in operating profit, representing an 8 per cent increase, while maintaining a positive cash position of ₦73 billion.
According to the company’s H1 2026 financial results released on September 7, volume grew marginally by 0.3 per cent, despite a decline in the wider beer market and category.
The company said the performance reflected stronger market performance compared with its competitors.Profit after tax rose by 18 per cent during the period, while net profit increased by 5 per cent following the implementation of Nigeria’s new tax law.
Nigerian Breweries also returned its retained earnings to positive territory, strengthening its financial position and providing room for further growth.The company attributed the improved operating profit to higher gross profit margins, cost management and improved operational efficiency amid a challenging business environment.
Commenting on the results, Managing Director of Nigerian Breweries Plc, Thibaut Boidin, said the performance demonstrated the resilience of the business and the impact of measures implemented to manage the current operating environment.“Our first-half performance reflects the resilience of our business and the strength of the measures we have put in place to navigate a challenging environment,” Boidin said.He added that the company had focused on disciplined execution, cost optimisation and stronger partnerships across its value chain while responding early to changing market conditions.
According to him, this approach helped the company manage external shocks, including the Middle East crisis, while maintaining business continuity and protecting its performance.Boidin also highlighted supplier partnerships and continued cost-efficiency measures as key contributors to the company’s performance in the first half of the year.
As it celebrates 80 years of operations in Nigeria, Nigerian Breweries said it will continue to focus on growth, operational resilience and long-term value creation for its stakeholders.Nigerian Breweries Plc, a member of the HEINEKEN Group, was incorporated in 1946 as Nigerian Brewery Limited.
The company produced its first bottle of STAR lager beer in June 1949 at its Lagos brewery.Today, the company has a portfolio of 19 brands, including Heineken, Desperados, Maltina, Life, Amstel Malta, Gulder, Fayrouz and Legend. Its products are manufactured across nine breweries and distributed nationwide.
