Nigerian Breweries Plc (NB) closed the 2021FY on a solid note, posting a year on year revenue growth of +29.74% – the highest revenue growth rate since 2008FY – to NGN437.86bn from NGN337.05bn in the same period last year. The impressive topline growth was mainly supported by increased volume demand in the domestic market and price increases across its product categories: value, mainstream and premium brands. We also acknowledge that the broad acceptance of the brewer’s recently launched products (including Sugar-free Amstel Malta, Star Radler Red Fruits, and Desperados) contributed to the robust demand.
Earnings Update – NB 2021FY (2)
