February 2, 2023

Nigerians drink beer worth N599.11 billion in six months running from January t0 June 2022, according to the first quarter results of four major brewers in the country.

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Champion Brew ended the First Half (H1) 2022 as the best performing company in the brewery Industry, as Nigerian Breweries and Guinness Nigeria lost market share to their rivals.

In the industry analysis of their revenue growth within January to June 2022, Prime Business Africa gathered Nigerian Breweries, Guinness Nigeria, International Breweries and Champion Brew generated a combined N599.11 billion.

The turnover grossed by the four largest brewer in the country grew 31.2%, when compared to the N456.44 billion they generated during the corresponding period in 2021.

While the net profit recorded by Nigerian Breweries, Guinness Nigeria, International Breweries and Champion Brew increased by 54.1%, as it rose to N36.14 billion in H1 this year, in contrast to the N23.44 billion reported in H1 2021.

How Nigerian Breweries, Guinness Nigeria, International Breweries and Champion Brew performed

The performance review is listed from least to best performing

Guinness Nigeria (28.9% growth)

Guinness Nigeria was the least performing company in terms of revenue growth, with the company reporting 28.9% in turnover growth, which rose to N206.82 billion in H1 this year, from N160.41 billion in H1 2021.However, Guinness Nigeria recorded the highest growth in profit after tax, as it closed the first half of this year with N15.65 billion, which is 1146.7% year-on-year growth, when compared to the N1.25 billion of H1 2021.

Nigerian Breweries (30.9% growth)

Guinness Nigeria was the least performing company in terms of revenue growth, with the company reporting 28.9% in turnover growth, which rose to N206.82 billion in H1 this year, from N160.41 billion in H1 2021.However, Guinness Nigeria recorded the highest growth in profit after tax, as it closed the first half of this year with N15.65 billion, which is 1146.7% year-on-year growth, when compared to the N1.25 billion of H1 2021.

Nigerian Breweries (30.9% growth)

Despite growing its revenue to N274.03 billion between January to June this year, the 30.9% growth rate when compared to the N209.21 billion turnover of H1 last year, makes Nigerian Breweries the third best performing firm in the market.The management was also able to grow its net profit by 142.8% year-on-year, having reported that it made N19.08 billion in the first six months of 2022, surpassing the N11.22 billion profit after tax of H1 2021.

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