By Peace Udugba
Shareholders of Nigerian Breweries Plc have commended the company’s Board and Management for a strong recovery and improved profitability in the 2025 financial year, attributing the performance to disciplined cost management and a significant reduction in finance expenses.
The commendation was given during the company’s 80th Annual General Meeting held in Lagos.
The immediate past Secretary of the Independent Shareholders Association of Nigeria, Mr. Eke Emmanuel, praised the leadership of the company for successfully navigating a volatile macroeconomic environment while strengthening its financial position.
He noted that the company’s resilience, at a time when several businesses exited the country, reflects strong leadership and a sound strategic direction.
“It is good news that we have been here for 80 years. There is no reason why we will not be here for the next 80 years with what we have achieved. To return to this level of profitability and cash position shows that the Board has done an enormous amount of work,” he said.
Also speaking, a member of the Noble Shareholders Association, Mr. Owolabi Opeyemi, lauded the Board and Management for steering the company through challenging business conditions and restoring its financial health.
“We are proud of how the company has withstood the ups and downs of a challenging environment. The return to profitability and the reversal of the negative cash position recorded in the previous two financial years is commendable,” he said.
In her address, the Board Chair, Nigerian Breweries Plc, Mrs. Juliet Anammah, expressed confidence that the company is firmly on a recovery path following net losses recorded in the past two years due to macroeconomic pressures and fiscal reforms.
She thanked shareholders for their continued support and reaffirmed the company’s commitment to building on its 2025 performance as it accelerates its growth ambitions.
“We have a solid foundation built over eight decades, anchored on a strong portfolio of brands, an extensive nationwide sales and supply chain network, ongoing digital transformation, and most importantly, our people. These strengths remain critical to sustaining our leadership position,” she said.
Anammah also addressed the company’s dividend position, explaining that the decision not to declare a dividend was necessary to rebuild retained earnings affected by prior macroeconomic shocks, particularly foreign exchange-related losses.
“We recognise the importance of dividend payments to our shareholders and sincerely appreciate your continued understanding. While we are not declaring a dividend at this time due to negative retained earnings, we are working diligently to restore the company’s financial position and return to dividend payments as soon as it is sustainable to do so,” she added.
She further noted that the Board remains cautious of external risks, including the Middle East crisis and broader macroeconomic challenges, which could impact the pace of recovery in the 2026 financial year.
The company said it remains focused on strengthening operations, improving profitability, and sustaining long-term growth despite prevailing economic headwinds.
