Tag: Nigerian Breweries Plc

Nigerian Breweries Plc declares 63.09% decline in Post-tax profit of Q3 2021

Chidinma Anyalewechi Leave a comment

Nigerian Breweries Plc released its Q3 2021 unaudited financial results for the period ended 30th of September 2021.

  • Net Revenue during the period was N100.02 billion. (+21.64% YoY)
  • Cost of sales for the period was N67.40 billion (+31.08%)
  • Gross profit stood at N32.62billion. (+5.89% YoY)
  • Operating profit for the period was N4.82 billion. (-35.26% YoY)
  • Profit before tax of N797.07 million was recorded during the period.
  • Profit for the period stood at N498.37 million (-63.09%)
  • Total assets during the period stood at N458.68 billion. (+1.83bn YtD)
  • Earnings per share of 6 kobo Vs 17 kobo YoY.

See full result here

Nigerian Breweries Plc Board of Directors to consider Interim dividend at meeting

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Nigerian Breweries Plc has disclosed through a notice filed with the Nigerian Exchange Limited (NGX) that an additional item has been added to the agenda to be considered.

The notice signed by the company’s secretary, Uaboi .G. Agbebaku, stated that the payment of an interim dividend has been added to the issues to be considered during the Board of Directors meeting scheduled to hold on the 28th of October, 2021.

Earlier, on the 27th September 2021, the company notified the investing public and the Exchange of its Board of Directors meeting and the company’s Closed Period. In addition to the consideration of payment of interim dividend, other issues to be considered is the approval of the Unaudited Financial Statements for the Company for the third quarter ending 30th September 2021.

The company’s closed period commenced on Tuesday, September 28, 2021 and is to continue until the next day after the unaudited financial statements are filed with the Exchange.

See notice here.

Nigerian Breweries Plc: Notice of Board Meeting.

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Nigerian Breweries Plc has notified its shareholders, the investing public and other relevant stakeholders that it will be hosting a Board of Directors Meeting on Thursday, October 28, 2021.

This is according to a notice signed by the company’s secretary, Uaboi Agbebaku, and filed with the Nigerian Exchange Limited (NGX).

According to the notice, the board meeting is scheduled to enable the Directors consider and approve the company’s unaudited accounts for the third quarter of the year ending 30th of September, 2021.

Consequently the company will be observing a closed period from September 28, 2021 until 24 hours after the financial results have been released to the NGX and made public. During the closed period, all insiders and their connected persons are prohibited from trading (i.e buying, selling, transferring or otherwise dealing) in the company’s shares.

 

For more information about the disclosure, click HERE.

 

Nigerian Breweries Plc reports a 38% increase in profit to N7.7billion in Q2 2021.

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Nigerian Breweries Plc released its unaudited financial results for the second quarter of the year ended June 30, 2021.

  • Revenue for the period was N209.3 Billion. (+37.8% YoY)
  • Cost of sales was N131.3 billion. (+41.7% YoY)
  • Marketing, distribution and administrative expenses totalled N58.63 billion. (+32.0% YoY)
  • Profit for the period was N7.72 billion. (+38.1% YoY)
  • Earnings per share of 96 kobo Vs 71 kobo YoY.

Commenting on the results, the Board said: ‘’The impact of Coronavirus (Covid-19) pandemic on the economy and by implication, the Company, continued during the period under review. Our priority remained protecting the health, safety and welfare of employees, customers and partners. We regularly monitored and evaluated the Company’s financial position and performance in the light of the pandemic; our Balance Sheet remained strong. The focus of the Board and Management continues to be the mitigation of the impact of the pandemic on the business.’’

 

See link to results.

Heineken B.V elects to receive scrip dividend of additional 40.56m Nigerian Breweries Shares.

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Heineken Brouwerijen B.V, a substantial shareholder in the Nigerian Breweries Plc, has elected to receive its final dividend for the period ended 31st of December 2020, in form of additional 40.56 million shares of the latter.

This is according to an official notice signed by the company’s secretary, Uaboi Agbebaku and made available on the website of the Nigerian Exchange Group Limited (NGX).

Recall that in April this year, the Nigerian Breweries Plc announced the ‘Scrip Dividend Election Scheme’, an option that gives qualified shareholders the opportunity to choose to receive their final dividends in the form of new ordinary shares of the company instead of cash.

The Scrip Dividend Election Scheme permits qualified shareholders to increase their stake in the company by acquiring new ordinary shares without paying transaction fees.

In light of the above, Heineken Brouwerijen B.V elected to receive 40,555,281 units of Nigerian Breweries Shares at a reference share price of N47.75 per unit. The reference share price was calculated using the 10-day average closing share price of the company’s traded shares starting on the 11th of March, 2021.

What you should know:

  • Nigerian Breweries Plc had earlier reported a profit after tax of N7.53 billion in FY 2020, indicating a decline of about 54.3% when compared with the amount declared in similar period of 2019. In line with the decreased earnings, the proposed final dividend of the company declined from N1.51 as at FY 2019 to 69 kobo in FY 2020.
  • Heineken Brouwerijen B.V holds the highest stake in the Nigerian Breweries Plc. As at 31st of December 2020, the former holds about 37.94% of the latter’s issued and fully paid-up shares.
  • Additionally, it is imperative to note that the recent action will help Heineken Brouwerijen B.V tighten its grip on the Nigerian Breweries by an additional 1.34%.

In case you missed it:

Nairametrics had earlier reported that Nigerian Breweries Plc is set to pay Heineken BV a mega dividend of about N2.9 billion.

 

Nigeria Breweries Plc appoints Hans Essaadi as new MD/CEO.

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The Board of the Nigerian Breweries Plc has announced the appointment of Mr Hans Essaadi as its new Managing Director/CEO effective from 31st of July, 2021.

This is according to a disclosure signed by the company’s secretary, Uaboi Agbebaku and seen by Nairametrics..

The appointment of Mr Essaadi is sequel to the resignation of the incumbent Managing Director/CEO, Mr Jordi Borrut Bel, who will be completing his assignment in the company on the 30th of July, 2021. Mr Bel resigned in a bid to enable him take up another assignment within the Heineken Group, his resignation has since been accepted by the Board effective by the close of business on the 30th of July, 2021.

On the other-hand, the CEO-Elect, Mr. Essaadi is currently the Managing Director of Al Haram Beverages, the Heineken Operating Company (‘’OpCo’’) in Egypt. He joined the Heineken Group as a Sales Representative in 1991. He rose through the echelons to the present position he is occupying, serving in various leadership capacities and countries en route.

Commenting on his recent appointment as MD/CEO elect, a statement from the company read: ‘’ The Board is pleased to have a person of Mr. Essaadi’s experience and knowledge to take up the position of Managing Director/CEO of the Company, and to continue the turnaround work started by Mr. Borrut Bel.’’

FMDQ admits Stanbic, MTN, Nigerian Breweries, Coronation Merchant Bank and 4 other CPs.

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FMDQ Securities Exchange has announced the approval for the quotation of Stanbic IBTC, MTN, Nigeria Breweries Plc and 5 other Commercial Papers.

According to series of verified disclosures from the FMDQ  Exchange, the comprehensive list of Commercial Papers recently approved for quotation on its platform are;

  • Mixta Real Estate N1.09 billion Series 34 CP under its N20 billion CP programme.
  • Stanbic IBTC Bank $8.31 million Series 2 CP under its N100 billion Multi-Currency CP Issuance Programme.
  • Nigerian Breweries N1.05 billion Series 12, N0.94 billion Series 13 and N2.67 billion Series 14 CPs under its N100 billion CP Issuance Programme.
  • Parthian Partners Limited N10 billion Series 1 (Tranche A), N5.26 billion Series 1 (Tranche B) and N4.74billion Series 2 CPs under its N20 billion CP Issuance Programme.
  • TrustBanc Holdings Limited N10 billion Commercial Paper
  • Eunisell Limited N10 billion Commercial Paper
  • Coronation Merchant Bank Limited N0.71 billion Series 13, N14.13 billion Series 14, N1.41 billion Series 15 and N20.19 billion Series 16 CPs under its N100 billion CP Programme.
  • MTN Nigeria Communications Plc N19.77 billion Series 3 and N53.74 billion Series 4 CPs under its N200 billion CP Issuance Programme.

It is pertinent to note that the admission will afford the aforementioned firms the opportunity to not only raise short term capital to support their business operations, but to also enjoy value-added benefits like visibility, transparency and liquidity that comes with being quoted on the FMDQ Exchange.

Nigerian Breweries publishes names of over 100,000 shareholders who are yet to claim their dividends.

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The Nigerian Breweries Plc has published the names of over 100,000 shareholders who are yet to file and receive their dividends, categorizing them under the firm’s unclaimed dividend list.

According to a disclosure sent to the Nigerian Exchange Group Plc (NGX) and seen by Nairametrics, the list will be circulated to affected shareholders alongside the firm’s 2020 Annual Reports and Accounts.

In addition, the firm rationalized the cost-effective strategy of publishing the affected names on its website rather than print media, noting that it had to do so due to the high number of names involved (over 100,000)

Recall that the Companies and Allied Matters Act (CAMA) 1990 (revised 2020) had empowered companies to publish the list of unclaimed dividends with names of all intended beneficiaries. In this light, the recent disclosure by the Nigerian Breweries therefore validates an earlier claim of a surge in unclaimed dividend in Nigeria, estimated to be around N200 billion by an adhoc committee of the Nigerian House of Representatives.

Sequel to the notification, all affected shareholders’ are urged to visit the firm’s registrar (First Registrars and Investors Services Limited) to claim their dividends. The Registrar’s physical address and email are captured below;

Address: No 2 Abebe Village Road, Iganmu, Lagos State.

E-mail: [email protected] or [email protected].

What you should know:

  • Nigerian Breweries Plc had earlier reported a profit after tax of N7.53 billion in FY 2020 and subsequently declared a final dividend of 69kobo per share.
  • In a bid to manage the high incidence of unclaimed dividends in Nigeria, the Federal Government of Nigeria through the Finance Act 2020 had proposed the establishment of an Unclaimed Dividend Trust Fund, which is to be managed by the Debt Management Office (DMO).

See link to the unclaimed dividend list of the company.

 

Nigerian Breweries announces option for shareholders to receive final dividend as new shares instead of cash.

Chidi Emenike Leave a comment

The Nigerian Breweries Plc has proposed a ‘’Scrip Dividend Election Scheme’’, that gives qualified shareholders the opportunity to choose to receive their final dividends in the form of new ordinary shares in the company instead of cash.

This is according to a notification sent by the company to the Nigerian Stock Exchange platform, as seen by Nairametrics.

Outlining the benefits of the scheme, the notice remarked that qualified shareholders who opted to receive new ordinary shares would thus be able to increase the number of shares they hold in the company without incurring capital market transaction costs. In addition, the scheme has the potential of helping the company to retain cash (for working capital purposes) that it would have paid out in dividends.

It is pertinent to note that ‘Qualified Shareholders’ in this context are those, whose names appear in the company’s register of members as at close of business on the 10th of March, 2021.

What you should know:

  • Recall that Nigeria Breweries Plc had earlier announced a profit of N7.53 billion in FY 2020. Sequel to this, a final dividend of 69 kobo per share was proposed by the Board.
  • Qualified shareholders who wish to opt for the scheme are expected to complete an Election form (available HERE) and return same to First Registrars and Investors Service Limited on or before the 12th of April, 2021.
  • It is pertinent to note that the number of new ordinary shares to be received by qualifying shareholders who elect for new shares, will depend on their respective cash dividend entitlements (less withholding tax) and the reference share price.