Shareholders laud NB Plc on efforts to return to profitability amidst economic challenges

Shareholders of Nigerian Breweries Plc—Nigeria’s foremost brewing company—have commended the Board and Management on their efforts to return the company to profitability amidst challenges confronting the Nigerian economy.

This position was held at the company’s 79th Annual General Meeting, which took place virtually on Wednesday, April 16, 2025.

Speaking during the meeting, the newly appointed board chair, Nigerian Breweries Plc, Mrs. Juliet Anammah, noted that it is good to see that the decisive actions taken by the company to deal with economic and business realities in 2024 were already yielding positive results.

Anammah who expressed profound appreciation to the shareholders for their patience, trust and unwavering support during the challenging period, stated that although the company did not pay dividend in the year under review, the net profitability recorded in the last quarter of the year represents a step in the right direction and the result of the successful execution of the business recovery plan in 2024. This has placed the company on the path that will result in the resumption of dividend paymen in the not too distant future.

“With the success of the rights issue coupled with the return to profitability in the last quarter of 2024, we are convinced that Nigerian Breweries is on the right path to improving its financial position and ensuring sustainable value creation for shareholders and other stakeholders”, she explained.

While expressing optimism about improvement in consumer spend in 2025, she noted that the company was ready to consolidate its leadership in the market by taking advantage of any market growth notwithstanding the aggressive competitive environment that has chracterised the commercial beverage sector for some years now.

A shareholder, Ahmed Batula, praised the Board for steering the company through a turbulent period and helping to return the business to profitability.

Batula stated that the Board has demonstrated immense capacity by ensuring that both loal and foreign debts were reduced significantly from the capital that was raised from the rights issue.

Another shareholder, Robert Ibekwe, stressed the need for the leadership of the company to continue to manage the business efficiently such that it can quickly return to the era of dividend payment to its shareholders.

Siyanbola Adetutu, also a shareholder, gave kudos to the company for ensuring gender diversity at both the Board and Management level.