Nigerian Breweries Plc has reported a significant increase in its market capitalisation, rising by 135 percent to N2.33 trillion in 2025, up from N991.5 billion recorded in 2024.
The company’s Chairperson, Mrs Juliet Anammah, disclosed the performance during its 80th pre-Annual General Meeting (AGM) briefing held in Lagos, as outlined in the firm’s 2025 Annual Report and Accounts.
Anammah attributed the strong growth to a combination of economic reforms and improved investor confidence within Nigeria’s capital market.
She noted that the company maintained solid momentum on the Nigerian Exchange (NGX), reinforcing its position among the most valuable listed firms in the country.
According to her, the broader equities market also experienced robust growth, recording a 51 percent year-on-year gain and reaching a total market capitalisation of N99.4 trillion.
The chairperson highlighted key policy developments that contributed to the positive market sentiment, including the rebasing of Nigeria’s Gross Domestic Product (GDP), which better reflects emerging sectors such as digital services, creative industries, and small-scale refining.
She also pointed to Nigeria’s removal from the Financial Action Task Force (FATF) grey list in 2025 as a major factor that boosted international investor confidence.
In addition, the passage of four tax reform laws aimed at simplifying the tax system and expanding the tax base further strengthened the investment environment.
Despite the strong financial performance, Nigerian Breweries announced that it would not declare dividends for the 2025 financial year due to negative retained earnings.
Anammah explained that accumulated losses must be fully cleared before any profit distribution can be made to shareholders.
She, however, expressed optimism that the company would return to positive retained earnings soon and resume dividend payments in the near future.
The company also urged shareholders with outstanding dividend claims to take action, noting that some payments have remained unclaimed for over a decade. Investors were advised to complete e-dividend registration to facilitate prompt access to their funds.
On operational performance, Nigerian Breweries reported a 35 percent increase in group revenue, reaching N1.5 trillion in 2025.
Gross profit rose by 77 percent to N565 billion, while operating profit jumped by 194 percent to N205 billion, driven by improved cost management and supply chain efficiency.
The company also recorded a turnaround in profitability, posting a profit before tax of N161 billion and a net profit of N99 billion after losses in previous years.
This recovery was further supported by an 83 percent reduction in finance costs, following the company’s 2024 rights issue, which helped reduce debt and settle foreign exchange obligations.
Nigerian Breweries stated that the improved financial outlook positions the company for sustained growth and stronger shareholder value in the coming years.
