Investors in Nigerian Breweries Plc have expressed satisfaction with the company's robust recovery and enhanced profitability for the 2025 financial year. This positive performance was attributed to stringent cost control measures and a substantial reduction in finance costs.
The appreciation was voiced during the company's 80th Annual General Meeting (AGM), which took place at the Oriental Hotel in Victoria Island, Lagos, on Wednesday, April 22, 2026.
Mr. Eke Emmanuel, the immediate past Secretary of the Independent Shareholders Association of Nigeria, acknowledged the Board and Management's success in guiding the company through a challenging macroeconomic landscape while simultaneously bolstering its financial standing. He highlighted that the company's resilience, particularly when many businesses were exiting the country, demonstrated effective leadership and a sound strategic plan.
"It is indeed positive news that we have reached 80 years. With our recent achievements, there is no reason why we should not continue for the next 80 years. Returning to this level of profitability and cash position indicates the significant efforts undertaken by the Board," he remarked.
Mr. Owolabi Opeyemi, a member of the Noble Shareholders Association, also lauded the Board and Management for their adept navigation of difficult business conditions, which has led to the restoration of the company's financial health.
"We are proud of how the company has weathered the fluctuations of a demanding economic environment. The return to profitability and the reversal of the negative cash flow recorded in the preceding two financial years are highly commendable," Opeyemi stated.
In her address, the Board Chair, Mrs. Juliet Anammah, conveyed optimism about the company's recovery trajectory following net losses incurred in the past two years due to macroeconomic pressures and fiscal policy changes.
She extended gratitude to the shareholders for their sustained backing and affirmed the company's commitment to building upon its 2025 performance to accelerate its growth objectives.
"Our foundation, established over eight decades, is strong, built upon a respected portfolio of brands, an extensive national sales and supply chain network, ongoing digital transformation initiatives, and most importantly, our dedicated people. These assets are crucial for maintaining our leading market position," she explained.
Mrs. Anammah also addressed the company's dividend policy, noting that the decision not to declare a dividend was to rebuild retained earnings depleted by previous macroeconomic shocks, particularly foreign exchange-related losses.
"We understand the importance of dividend payouts to our shareholders and deeply appreciate your continued understanding. Although we are not declaring a dividend at this moment due to negative retained earnings, we are actively working to strengthen the company's financial position and reinstate dividend payments as soon as it becomes sustainable," she added.
She further cautioned that the Board remains vigilant regarding external risks, including the Middle East crisis and broader macroeconomic challenges, which could influence the pace of improvement in the 2026 financial year.
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