The Board of Directors of Nigerian Breweries Plc has approved an interim dividend of N4,798,141,231 that is 60 kobo per ordinary share of 50 kobo in the share capital of the Company, for the period ended September 30, 2018.
The interim dividend, which is subject to the deduction of withholding tax, is payable on Monday December 10, 2018 to all shareholders registered in the books of the Company at close of business on Thursday, November 22, 2018.
The company recorded a Profit After Tax of N14.7billion for the nine months ended September 30, 2018, while results from Operating Activities stood at N27.7billion over the same period.
An analysis of the unaudited and provisional results shows that Profit after Tax dipped by 38.4percent from the N23.9billion recorded over the same period in the preceding year, while results from Operating Activities dropped by 34.4percent from the N42.3 billion recorded in the same period last year.
Profit before Tax also dipped by 34.7 percent from N34.4billion recorded in 2017 to N22.4billion in the period under review.
Commenting on the results, the Company Secretary/Legal Adviser, Mr. Uaboi Agbebaku said “the new excise duty regime which came into effect in June and the consequent effect of it, adversely impacted the Third Quarter results”.
He added that the Company also undertook a rightsizing exercise which resulted in a substantial one off cost during the quarter.
BY MICHAEL AKINOLA Trial of the Accountant-General of Bauchi State, Sirajo Muhammed Jaja continued on…
Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Ajayi Obasa, has described…
The Benin-Asaba Expressway Concession Company Limited (BAECC) has announced the appointment of renowned Public-Private Partnership…
Following a new seven-day flood alert advisory (NFA-2026-2022) issued over the weekend by the Nigerian…
With barely five months to the 2027 Governorship election, Ogun State chapter of the Peoples…
The National Association of Nigerian Youth in Development (NANYD) has issued a strong caution to…