NewsExpress advert FCMB banner
Nigerian Breweries preaches confidence in Nigerian economy despite present difficulties

By News Express on 06/05/2016

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 3,832

Nigerian Breweries (NB) Plc has expressed commitment to the development and growth of the country’s economy in spite of the challenging operating environment.

Mr Nicolaas Vervelde, NB Managing Director, disclosed this on Thursday at the company's 2015 pre-Annual General Meeting media briefing in Lagos.

Vervelde said that favourable demographic profile, growing middle class and rising urbanisation made the country thick for good investment opportunities despite falling oil prices and foreign exchange challenges.

He said that the company would remain committed to the development and growth of the country through investment in education and youth empowerment, among others.

Vervelde explained that the company was ready and poised to exploit arising opportunities in the country despite the tough operating environment.

He expressed optimism that the company would maintain its leadership position in the industry with strong innovation agenda, strong brand portfolio and cost leadership focus.

The managing director said that 2015 financial year was a very challenging year due to elections/transition period, forex challenges, insecurity, falling oil prices and rising inflation.

Vervelde said that the challenges and unpaid salaries by many state government reduced purchasing power by 18 per cent in 2015.

He said that the company was able to deliver good results and return on investment due to cost leadership and market leadership supported by strong innovations.

Vervelde said that 21.5 per cent of the company’s 2015 revenue came from innovations which led to introduction of new products into the market.

The managing director said that the company was looking toward ensuring that 60 per cent of its raw materials were sourced locally by 2020, noting that the target would be accomplished before the deadline.

He pointed out that the company had concluded the integration of two operating companies following the merger with the dissolved Consolidated Breweries Plc.

The News Agency of Nigeria (NAN) reports that the company, for the financial year ended Dec. 31, 2015, posted a turnover of N293.9 billion from N266.4 billion achieved in the comparative period of 2014; an increase of 10.3 per cent.

Its profit after tax dropped by 10.5 per cent to N38 billion from N42.5 billion in 2014.

The company’s operating profit stood at N62.30 billion against N66.9 billion in the preceding period of 2014, a decrease of 6.3 per cent.

The company, in spite of the challenging environment, recommended a total dividend of N38.06 billion which translated to N4.80 per share against N37.2 billion (N4.75 per share) declared in 2014. (NAN)

•Photo shows NB Managing Director, Nicolaas Vervelde. 

Source News Express

Posted 06/05/2016 05:20:36 AM


Share on facebook Yahoo mail icon Gmail icon Share on Google+



REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...


You may also like...
Labour, Petroleum Ministers to meet with PENGASSAN today...

Apostolic Church gives up branch in Oshogbo for...

Radio Bayelsa GM flogs 4 workers

Militants disown Reformed Niger Delta Avengers, allege attempt...

Update: Nigerian who jumped White House fence lands...

“Blue film” epidemic hits Nollywood

Family of 6 perishes in early morning Jos...

DSS deceitfully obtained my detention warrant, Ifeanyi Ubah...

Bayelsa Govt. to evict flood victims after diverting...

Suleja Emirate Council begins investigation into arrest of...

Ige apologises as false missile alarm sparks panic...

Recall: INEC dumps documents in Dino Melaye’s office...


Latest News Victor Moses shoots down hosts Poland as Super Eagles begin 2018 World Cup preparation on victory note FG tackles Bill Gates over Buhari’s economic strategy Jonathan, South South Governors, others storm Yenagoa for Restructuring Rally Cholera, Lassa fever kill 14 in Bauchi Anambra guber: Tribunal fixes April 17 for hearing of case against Obiano Queen Elizabeth to start this year’s London Marathon 7.4m pupils benefitting from school feeding programme — Osinbajo Supreme Court orders retrial of Kenny Martins, others for alleged N7.74bn Police Equipment fraud CBN sustains intervention in foreign exchange market with $339.89m Akeredolu remains Ondo Governor — APC Technological Development: FG ready to partner Techno Land Use Charge: Lagos Peoples’ Assembly throws weight behind Ambode •Brands Ikeja NBA mercenary tools of politicians


Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (333,038 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (325,957 views) Shameless Genevieve Nnaji exposes breasts in public (261,449 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (214,914 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (198,399 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (192,949 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (168,172 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (150,830 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (143,502 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (133,749 views) Lagos plane crash: Journalist releases victims’ names (133,014 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (126,231 views)


Categories Advertorials (3) African Press Organisation (81) Art & Literature (35) Business & Economy (2,984) Business Verdict (36) Columnists (817) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (456) Features (554) Global Business Monitor (241) International (1,863) Interview (146) Live Commentary (28) Love Matters (114) News (33,862) Opinion (898) Pidgin (10) Politics (4,636) Religion (703) Sports (1,458) Stock Watch (28) AMA & Al Jazeera Global Update



NLNG Science and Literature Prize Awards




Football Highlight -- BARCELONA - CHELSEA 3:0


APO Group Partner




REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

GOCOP Accredited Member

GOCOP Accredited member



Africa Media Agency and Al Jazeera