Champion Breweries posts N530m 2016 PAT

Champion Breweries Plc has recorded 587.56 per cent growth in net earnings for the full year ended December 31, 2016. According to a report from the Nigerian Stock Exchange (NSE), the company’s profit after tax stood at N530.389 million in 2016 as against N77.140 million posted a year earlier. Profit before tax equally grew by 198.70 per cent from N206.769 million in 2015 to N617.634 million posted in 2016.

Turnover grew from N3.501 billion in 2015 to N3.864 billion during the review period of 2016, accounting for leap of 10.36 per cent. Champion Breweries reported 440.97 per cent increase in net earnings for the second quarter ended June 30, 2016.

In a filing with the Exchange, the company’s profit after tax stood at N78.869 million as against N14.579 million posted a year earlier. Profit before tax equally grew by 435.95 per cent from N20.829 million in 2015 to N111.634 million posted in 2016.

Turnover rose from N1.595 billion in 2015 to N1.829 billion during the review period of 2016, depicting for growth of 14.67 per cent. The brewer posted 520.7 per cent rise in net earnings for the first quarter ended March 31, 2016.

The company’s profit after tax stood at N57.108 million as against N9.200 million posted a year earlier. Profit before tax equally leapt by 508.82 per cent from N13.400 million in 2015 to N81. 583 million posted in 2016.

Turnover moved up from N757.042 million in 2015 to N871.887 million, representing growth of 15.17 per cent. Champion Breweries had recorded a profit after tax of N77.140 million for the full year ended December 31, 2015 from a loss position of N754.523 million recorded the same period in 2014.

The company’s profit before tax also stood at N210.179 million as against a loss of N1.071 billion posted a year earlier. Turnover grew from N3.302 billion in 2014 to N3.501 billion during the review period of 2015, accounting for growth of 6.02 per cent.

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