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Nigerian Breweries declares N157.3 Billion Revenue for H1 2016

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7 years ago

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The Board of Directors of Nigerian Breweries Plc has declared a revenue of N157.37 billion for the first half of 2016. The unaudited and provisional results released to The Nigerian Stock Exchange show that the amount represents a 4 per cent increase over the N151.67 billion declared in the corresponding period in 2015.
The results show that the results from operating activities of the Company improved by 0.10 per cent from N33.90 billion in the first half of 2015 to N33.94 billion in the corresponding period in 2016. A further analysis shows that Profit Before Tax (PBT) dipped by 17.64 per cent from N33.99 billion in the period under review in 2015 to N25.52 billion in the same period in 2016 while Profit After Tax (PAT) dropped by 11.24 per cent to N19.06 billion in the current period from N21.47 billion in the same period in 2015.
A statement by the Board of Directors said in the first half of 2016, the Company was able to deliver top line growth with revenue increasing by 4 per cent compared to the first six months of 2015. It added that rising inflation combined with higher inputs costs as a result of scarcity of foreign exchange, led to a flat operating profit compared with the preceding year. Despite a lower interest cost from the Commercial Paper Programme, PAT declined by 11 per cent, mainly due to foreign exchange losses arising from the rates going up in June.
The statement signed by the Company Secretary/Legal Adviser, Mr. Uaboi Agbebaku, further said although the Board expects the operating environment in 2016 to remain challenging for the rest of the year, the Company remains focused on its twin agenda of Cost Leadership and Market Leadership supported by innovation and the Board remains positive on the Nigerian market for the medium and long term.

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Lagos Takes a Giant Leap Towards a Cleaner, Greener Future with Proper Waste Disposal Bins

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2 days ago

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December 11, 2024

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Join the Movement to Build a Culture of Proper Waste Segregation and Disposal in Lagos. 

 

As part of its efforts to promote a cleaner, greener, and healthier environment, The Architects Place Ltd In conjunction with the Ministry of Environment and Water Resources has launched an initiative to provide proper waste disposal bins across the state.

 

The initiative, which is aimed at building a culture of proper waste segregation and disposal, is designed to encourage residents, businesses, and institutions to properly dispose their waste and recyclables.

The proper waste disposal bins, which are designed to accommodate different types of waste, including recyclables, organics, and non-recyclable waste, will be strategically located in public spaces, markets, and other high-traffic areas.

 

This will help to reduce the amount of waste that ends up in landfills and waterways, improving environmental health and reducing the risk of disease. By providing separate bins for recyclables, the initiative will encourage residents and businesses to recycle more, reducing waste and conserving natural resources.

 

We urge all residents, businesses, and institutions in Lagos to join us in this effort to build a culture of proper waste segregation and disposal. Together, we can make a difference and create a cleaner, greener, and healthier environment for all.

 

For more information on the proper waste disposal bin initiative, please contact:

 

Ministry of Environment & Water Resources, Alausa Lagos State.

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News and Report

National Grid Collapses 12th Time In 2024

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2 days ago

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December 11, 2024

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Nigerians were left in darkness on Wednesday following yet another collapse of the national power grid.

 

Since January 2024, the grid has collapsed 11 times.

 

 

In just one week in October, the grid failed three times, causing widespread blackouts and prompting reactions from Nigerians

 

 

A tweet from Nigeria’s National Grid official handle confirmed the collapse at approximately 2:09 pm on Wednesday.

 

“The major grid setback has occurred and the restoration is to commence,” the tweet stated.

 

 

 

 

More to come…

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News and Report

Just In: Abuja High Court Denies Yahaya Bello’s Bail Request…..

Published

3 days ago

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December 10, 2024

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A High Court of the Federal Capital Territory (FCT) in Maitama has rejected the bail request by former Kogi State Governor, Yahaya Bello.

 

Bello is standing trial, along with two others, on an alleged N110bn money laundering charge brought against him by the Economic and Financial Crimes Commission (EFCC).

 

Justice Maryanne Anenih, in a ruling on Tuesday, faulted the competence of Bello’s bail application, stating that it was filed prematurely.

 

Justice Anenih held that, since the application was made when Bello was neither in custody nor before the court, it was deemed incompetent.

 

She said: “Consequently, the instant application, having been filed prematurely, is hereby refused.”

 

 

 

More to come…

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