Consumer demand for beer in Nigeria has helped Nigerian Breweries, which produce brands such as Heineken, Desperados, Maltina, Life, and Amstel Malta, post a 9% increase in sales during the first half of 2026.
Operating profit also grew at the business, which owns nine breweries and two malting plants, recorded a group revenue of N804 billion (£403million), representing a 9% increase over the N738 billion reported in the corresponding period of 2025.
Company secretary of Nigerian Breweries Plc, Uaboi Agbebaku, the company continued to demonstrate resilience despite a challenging operating environment marked by macroeconomic volatility.
Agbebaku explained that the increase in the group revenue reflects “the benefit of revenue management actions and strategic management initiatives”, emphasising sustained investment in strategic brands, focused execution across the value chain, and continued contribution from the premium brands and the malt category.
He said: “Gross profit margin expanded by 2 percentage points with results from operating activities increasing by 8%. Profit before tax went up by 18% supported by a 61% reduction in net finance expense. The impact of the new tax rates limited the group net profit growth to 5%“, he added.
Agbebaku also noted that the company has strengthened its financial position by improving liquidity and reducing financing pressure by maintaining zero borrowing.
He stated that “This strengthened cash position provides greater flexibility to respond to evolving market conditions while supporting ongoing business priorities. The Company has also now restored its retained earnings to a positive position,” he said.
Elsewhere, Guinness Nigeria also benefited from strong demand for beer by building on a strong start to the financial year.
The company recorded revenues of 142.27 billion (£77million), which marked a 20% increase from the 118.66 billion recorded in the same period last year,
Gross profit at Guinness Nigeria grew to 53.99 billion, while its operating profit was up to 24.34 billion.
