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Tag: Nigerian Breweries

  • NB, Dangote Cement record loses on NSE, drag index by 1.12%

    NB, Dangote Cement record loses on NSE, drag index by 1.12%

    Nigerian Breweries and Dangote Cement recorded price depreciation on the Nigerian Stock Exchange ( NSE ) on Thursday, dragging the indices down by 1.12 per cent.

    Both companies led the losers’ chart with a loss of N4.90 per share.

    Specifically, Nigerian Breweries lost N4.90 to close at N131, while Dangote Cement also dipped N4.90 to close at N264.90 per share.

    Lafarge Africa dropped N1.80 to close at N50.10, while Total depreciated by N1 to close at N231 per share.

    Guaranty Trust Bank also declined by N1 to close at N48 per share.

    Consequently, the All-Share Index, which opened at 43,330.54, shed 487.16 points or 1.12 per cent to close at 42,843.38.

    Also, the market capitalisation lost N175 billion or 1.13 per cent to close at N15.374 trillion compared with N15.549 trillion on Wednesday.

    On the other hand, Seplat, due to improved 2017 earnings released to the market, led the gainers’ table, growing by N14.50 to close at N675 per share.

    NASCON followed with a gain of 95k to close at N22.95, while International Breweries gained 65k to close at N57.65 per share.

    Unilever added 35k to close at N51.55, while Union Bank of Nigeria advanced by 25k to close at N6.75 per share.

    A breakdown of the activity chart indicated that Transcorp was the most active stock during the day, trading 40.35 million shares worth N80.98 million.

    Zenith International Bank followed with an account of 40.04 million shares valued at N1.27 billion, while GT Bank traded 31.04 million shares worth N1.51 billion.

    Wapic Insurance exchanged 30.26 million shares valued at N19.67 million, while Royal Exchange traded 29.74 million shares worth N9.52 million.

    In all, the volume of shares traded dropped by 35.08 per cent with an exchange of 371.25 million shares valued at N4.87 billion transacted in 4,570 deals.

    This was in contrast with a total of 571.87 million shares worth N10.80 billion traded in 5,142 deals on Wednesday.

    NAN

  • Nigerian Breweries pays N33b net profit as dividend

    Nigerian Breweries pays N33b net profit as dividend

    The board of Nigerian Breweries (NB) Plc has recommended distribution of N25 billion as final cash dividend to the shareholders of breweries, raising the total cash dividend for the 2017 business year to N32.9 billion. This represented the entire profit after tax for the year.

    A breakdown of the final dividend recommendation indicated that shareholders will receive a dividend of N3.13 on every share held as at the close of business on March 6, 2018. Shareholders are expected to approve the dividend at the company’s annual general meeting on April 20, 2018 while the dividend will be paid on April 23, 2018.

    Nigerian Breweries had distributed N7.9 billion as interim dividend, representing interim dividend per share of N1. The total dividend per share now stands at N4.13.

    Key extracts of the audited report and accounts of the company for the year ended December 31, 2017 showed that total sales rose by 10 per cent from N313 billion in 2016 to N344 billion. Profit before tax increased from N39.67 billion in 2016 to N46.63 billion in 2017. Profit after tax grew by 16 per cent from N28.4 billion in 2016 to N33 billion. Earnings per share stood at N4.13 in 2017 as against N3.58 in 2016.

    Company Secretary, Nigerian Breweries Plc, Mr. Uaboi Agbebaku, noted that while the foreign exchange situation improved in the course of 2017, double digit inflation continued to impact both businesses and consumers.

    He said the company was able to end the year with improved results through continuous focus and execution of the twin agenda of cost leadership and market leadership supported by innovation.

    He pointed out that while there are some early signs of improvement in the macro-economic condition, this is yet to be reflected in consumer confidence.

    Directors of the company expressed optimism that NB has a clear strategy to deliver good return on investment to shareholders as part of its commitment to winning with Nigeria.

  • 67.8m scrip shares lift Nigerian Breweries to N1.21tr

    Nigerian Breweries opened this week with a market capitalisation of N1.214 trillion, trailing behind Dangote Cement’s N4.43 trillion and Guaranty Trust Bank’s N1.442 trillion.

    Nigerian Breweries last weekend listed 67.8 million ordinary shares of 50 kobo each, increasing its outstanding issued shares from 7.929 billion ordinary shares to 7.997 billion ordinary shares. The additional shares further strengthened Nigerian Breweries’ position as the third most capitalised company at the Nigerian stock market.

    The supplementary shares were due to the scrip dividend scheme offered by the company to eligible shareholders, who elected to receive new ordinary shares in lieu of cash dividends.

    The additional shares arose as a result of the scrip dividend scheme offered to eligible shareholders of the company, who elected to receive new ordinary shares in lieu of cash dividends with respect to the N2.58 final dividend declared for the year ended December 31, 2017.

    Nigerian Breweries had distributed N28.4 billion to shareholders as cash dividend for the 2016 business. Breakdown of the dividend recommendation showed a total dividend per share of N3.58. A final dividend of N20.46 billion was distributed to shareholders on the basis of N2.58 per share. The company had earlier paid interim dividend of N7.9 billion to shareholders, equivalent to N1 per share.

    The board of Nigerian Breweries then recommended an option for qualifying shareholders to receive new ordinary shares in the company instead of the cash final dividend, on terms and conditions as the board may determine based on prevailing market conditions.  Shareholders subsequently voted for the cash-for-share dividend option at the company’s annual general meeting in May 2017.

  • Nigerian Breweries lists 67.8m scrip shares

    Nigerian Breweries has listed 67.8 million ordinary shares of 50 kobo each, increasing its outstanding issued shares from 7.929 billion ordinary shares to 7.997 billion ordinary shares. The additional shares further strengthened Nigerian Breweries’ position as the third most capitalised company at the Nigerian Stock market.

    Nigerian Breweries closed at the weekend with a market capitalisation of N1.214 trillion, coming behind Dangote Cement’s N4.43 trillion and Guaranty Trust Bank’s N1.442 trillion.

    The supplementary shares were due to the scrip dividend scheme offered by the company to eligible shareholders, who elected to receive new ordinary shares in lieu of cash dividends.

    The additional shares arose as a result of the scrip dividend scheme offered to eligible shareholders of the company, who elected to receive new ordinary shares in lieu of cash dividends with respect to the N2.58 final dividend declared for the year ended December 31, 2017.

    Nigerian Breweries had distributed N28.4 billion to shareholders as cash dividend for the 2016 business. Breakdown of the dividend recommendation showed a total dividend per share of N3.58. A final dividend of N20.46 billion was distributed to shareholders on the basis of N2.58 per share. The company had earlier paid interim dividend of N7.9 billion to shareholders, equivalent to N1 per share.

    The board of Nigerian Breweries had then recommended an option for qualifying shareholders to receive new ordinary shares in the company instead of the cash final dividend, on terms and conditions as the board may determine based on prevailing market conditions.  Shareholders subsequently voted for the cash-for-share dividend option at the company’s annual general meeting in May 2017.

  • Nigerian Breweries appoints new MD

    Nigerian Breweries appoints new MD

    Nigerian Breweries Plc on Monday announced the appointment of Jordi Borrut Bel as its new Managing Director/Chief Executive Officer.

    The appointment takes effect from January 22, 2018.

    Borrut Bel will succeed Johan Doyer who has served as Managing Director/CEO on an interim basis since June 16, 2017. The Board of Directors has informed the Nigerian Stock Exchange (NSE) of the appointment.

    Bel is currently the Managing Director of Heineken’s subsidiary in Burundi, Brarudi S.A. and a Board member of Bralirwa Limited, Rwanda, also a Heineken subsidiary in Rwanda.

    He joined Heineken Spain in 1997 as Sales Representative and subsequently held increasingly senior management positions in different countries, first as Distribution Project Manager in Slovakia, Brand Manager in France and Trade Marketing Manager at the Head Office in The Netherlands.

    In 2006, he returned to Heineken Spain where he evolved in the organization and eventually became the On-Premise and Distribution Director and a member of the Management Team.

    Bel was appointed the Managing Director of Brarudi S.A. in 2015 and has successfully led the company through a very turbulent period, strengthening the company’s route-to-market and launching successful innovations.

    The Board is confident that Bel’s track record and broad experience stand him in a very good position to drive Nigerian Breweries Plc’ strategy and consolidate its leadership position in the Nigerian market.

  • Career, finance tips for Lagos pupils

    Secondary school pupils were told last Thursday to groom their talents and abilities in order to take advantage of opportunities in their chosen career.

    They were counseled during the Beyond the School career awareness programme of the Nigerian Breweries/Felix Ohiwerei Education Trust Fund held last Thursday at the Terraculture, Victoria Island, Lagos.

    An array of seasoned facilitators exposed the pupils drawn from five schools in Lagos State to success principles and attitudes that would help them excel in their chosen professions as well as financial literacy.

    Speaking on Personal Development and Career Facts, Emilia Asim-Ita, a Senior Consultant with Thistle Praxis Consulting, told the pupils that their career choices should be determined by passion. She advised them to read wide, cultivate mentors and ignore distractions.

    “The knowledge you now have will help you find disciplines that you are passionate about. You also have to develop the skills needed to succeed in those disciplines,” she said.

    Mr Gbubemi Fregene, aka Chef Fregz, shared his success story.  He said he loved cooking from his secondary school days.

    He urged the pupils to take their education seriously to help them succeed even better in their careers.

    “Life is about your passion, but education is important. The relationship is symbiotic because it is actually your education that will determine how far you go with your passion. Don’t be upset that you don’t have anything now, but focus on what you are going to do in your own circle,” he said.

    Personal Finance guru, Mrs. Nimi Akinkugbe, Managing Director of Bestman Games, advised the pupils to cultivate a savings habit.

    “You should save 20 per cent of you feeding money.  For now you need to satisfy your needs not your wants and as a young child all you need are food, clothes and shelter.”

    In his remarks, Mr. Kufre Ekanem, Corporate Affairs Adviser, Nigerian Breweries Plc, said the initiative was introduced to complement other initiatives of the company targeted at the education sector.

    “Beyond the School is designed for senior secondary school students in public schools to expose them to career options and factors they need to consider before making a career choice,” he said.

    This year’s edition drew pupils and teachers from Iponri Estate Senior High School; Stadium Senior High School; Onitolo Community Senior High School; Iganmu Senior Secondary High School and Adebola Baptist Senior High School, all in Lagos Education District IV.

    The pupils and teachers also competed in a game of monopoly where they won various prizes.  The top three players on each of the six tables set up for the game were rewarded with laptops.

     

  • Nigerian Breweries mulls board changes

    The board of Nigerian Breweries Plc has scheduled a meeting to reconsider the composition of the board of the second most capitalised quoted company in Nigeria.

    A regulatory filing at the Nigerian Stock Exchange (NSE) indicated that the company has scheduled a meeting of its directors for next week’s Friday to consider the board changes.

    However, details of the changes in the composition were not available. Such changes usually take the form of reconsideration of the appointments of some directors or reduction or expansion of the size of the board.

    Already, the Nigeria’s largest brewer, which is owned majorly by Heineken International, has a 16-member board of directors. Heineken N.V holds a majority equity stake of about 55.95 per cent while some 111,342 Nigerian and foreign individuals and associations hold the balance of about 44.05 per cent.

    There are nine non executive directors against seven executive directors currently on the board of the brewer. The board consists of 10 Nigerian directors and six foreign directors. Most Nigerians are non-executive directors. The Nigerian non-executive directors include Chief Kola Jamodu, chairman; Mr Olusegun Adebanji, Chief Samuel Bolarinde, Mr. Obadiah Mailafia, Mrs Ndidi Nwuneli, Mrs Ifueko Okauru and Mr Atedo Peterside. The foreign non-executive directors include Mr Siep Hiemstra and Mr. R. Primez.

    The executive directors consist of four foreign directors and three Nigerians. The foreign executive directors include Mr John Doyer, Managing Director; Mr Franco Maggi, Marketing Director; Mr Mark Rutton, Finance Director and Mr. Hendrik Wymenga, Supply Chain Director. The Nigerian executive directors include Mr Herbert Eze, sales Director; Mr Victor Famuyibo, Human Resources Director and Uaboi Agbebaku, who doubles as company secretary and legal adviser.

    It should be recalled that Nigerian Breweries had appointed Mr. Johan Doyer as its new managing director and chief executive. Doyer’s appointment took effect on June 16, 2017 on an interim basis pending the appointment of a substantive managing director for the company. Doyer succeeded Mr. Nicolaas Velvede, who was appointed as the managing director of Heineken Asia Pacific Region.

     

  • Nigerian Breweries’ brand Heineken wins award

    Heineken, the international premium beer brand under the stable of Nigerian Breweries Plc., emerged as the ‘Brand of the Year, West Africa’ at the ADVAN Awards for Marketing Excellence on Saturday, 11 November 2017.

    The brand also took home the award for ‘Campaign of the Year’, while Obabiyi Fagade, Brand Manager, Heineken, got the much-coveted ‘Brand Manager of the Year’ award.

    Held at the Muson Centre, Onikan, Lagos, Heineken won top prizes at the event for demonstrating strong leadership and innovation, excellent consumer perception, and most importantly, a seamless execution of the credential campaign ‘There’s More Behind The Star’ with international artiste, Jidenna.

    Speaking shortly after the event, Mr. Fagade dedicated the awards to the Heineken team, describing it as a worthy recognition of its hard work and passion.

    “We are really honoured to receive these awards, and coming off such as wonderful campaign with the Heineken global team, this serves as an inspiration to us in building on innovation that opens the world to our consumers, and also brings people together to share world-class experiences,” he said.

    With Heineken’s ‘There’s More Behind The Star’ credential campaign, the brand brought stories of the world’s No.1 international premium beer to life, taking a bold step to launch a country-focused campaign that gave consumers an interesting glimpse into the secrets that make its five-point red star iconic – from ingredients to the way it is brewed.

    With Jidenna, the brand captured Nigerians in enthralling and relatable stories about culture and norms while emphasizing what makes the brand important to its loyal consumers.

  • Nigerian Breweries announces results for 2017, declares N7.9b interim dividend

    The Board of Directors of Nigerian Breweries Plc  has announced a revenue of N254.7 billion for nine (9) months ended September 30, 2017. In the statement of the result sent to Nigerian Stock Exchange (NSE), its board further announced the declaration of an interim dividend of N7,996,902,051 (Seven billion, nine hundred and ninety six million, nine hundred and two thousand and fifty one naira only), which is, N1.00 (one naira only) per ordinary share of fifty kobo in the share capital of the company.

    An analysis of the unaudited and provisional result showed that results from operating activities grew from N37.9 billion to N42.3 billion, Profit before tax rose from N27.8 billion to N34.4 billion while Profit after tax grew to close at N23.9 billion from the N20.1 billion posted in the same period in 2016.

    While commenting on the results, the company Secretary/Legal Adviser, Mr. Uaboi Agbebaku said: “Despite the continued challenging business environment,    revenue in the first nine months of the year grew compared to the corresponding period in 2016.” He added that as a result of the company’s continued focus on internal efficiencies under its cost leadership programme, results from operating activities improved, which combined with lower net finance charges resulted in increased profitability in the period.

    It added that the interim dividend is payable subject to deduction of withholding tax at the appropriate rates, on Thursday, November 23,  2017 to all shareholders registered in the books of the company at the close of business on Wednesday,  November 15, 2017.

    In the statement by Mr. Agbebaku, the Board maintained that whilst the operating environment for the remainder of the year is expected to remain challenging, it is confident that, barring unforeseen circumstances, the company is well placed to deliver a good return on investment to shareholders.

     

     

     

  • Total Nigeria, Nigerian Breweries to pay N8.9b interim dividend

    The boards of directors of Total Nigeria Plc and Nigerian Breweries Plc have recommended payment of N8.92 billion as interim cash dividends to shareholders. The two sectoral leaders have just have just  released their third-quarter results.

    Total Nigeria will share about N1.02 billion to shareholders, representing interim dividend per share of N3. Nigerian Breweries will distribute N7.9 billion, representing interim dividend per share of N1.

    The nine-month report of Nigerian Breweries for the period ended September 30, 2017 showed that the company recorded a turnover of N254.7 billion. Profit before tax rose from N27.8 billion to N34.4 billion while profit after tax improved to N23.9 billion from the N20.1 billion.

    Company Secretary and Legal Adviser, Nigerian Breweries Plc, Mr. Uaboi Agbebaku said despite the continued challenging business environment, revenue in the first nine months of the year grew compared to the corresponding period in 2016.

    He added that as a result of the company’s continued focus on internal efficiencies under its cost leadership programme, results from operating activities improved, which combined with lower Net finance charges resulted in increased profitability in the period.

    It added that the interim dividend is payable subject to deduction of withholding tax at the appropriate rates, on Thursday, November 23, 2017 to all shareholders registered in the books of the company at the close of business on Wednesday, November 15.

    The board maintained that whilst the operating environment for the remainder of the year is expected to remain challenging, it is confident that, barring unforeseen circumstances, the company is well placed to deliver a good return on investment to shareholders.

    Meanwhile, Total Nigeria suffered a contraction in the third quarter. Turnover was almost flat at N221.2 billion in third quarter 2017 as against N220.2 billion recorded in third quarter 2016. Profit before tax dropped by 43 per cent from N17 billion to N9.68 billion while profit after tax declined by 49 per cent from N11.63 billion in third quarter 2016 to N5.96 billion in third quarter 2017.