Nigerian Breweries Shows Strong Recovery in H1 2026

Nigerian Breweries Plc, Nigeria’s largest brewing company, has experienced a tumultuous financial history, suffering heavy losses in 2023 and 2024 before returning to profit with a N99.1 billion profit in 2025. The company's H1 2026 results indicate a sustained recovery, with revenue increasing by 8.9% and gross profit rising by 14.1%, improving the gross margin from 42.1% to 44.2%.

The operating profit for the first half of 2026 reached N164 billion, up from N151.9 billion the previous year. The company has implemented strategies such as price increases in 2023, February and March 2024, and March 2026 to counter rising production costs.

Additionally, improvements in productivity and supply chain efficiency have contributed to this recovery. The favorable foreign exchange environment and reduced financing costs, following a rights issue in 2024, have further bolstered the company's financial position.

However, overhead expenses remain a challenge.