COMPANY ANALYSIS: Q3 loss trims Nigerian Breweries’ profit to N14.7bn | TheCable
the third quarter. The company’s third-quarter interim financial report at the end of September 2022 shows that earnings results worsened from a drop in quarterly profits in the second quarter into a loss in the third quarter.
The cost of marketing/distribution to generate the naira of net sales revenue in the third quarter grew from less than 23 kobo in the same quarter last year to 25.6 kobo in the third quarter of the current year.With lower volume performance, marketing/distribution expenses claimed as much as 85.5 percent of net sales in the third quarter, rising from 70 percent in the same period in 2021.
Some respite came from a tax credit of N2.6 billion, leaving a net loss of roughly N4 billion for shareholders in the third quarter. The adverse impact of marketing/distribution expenses was however partly diluted by strong growth in other income from N894 million to N2.5 billion over the review period. A moderated growth of 17 percent in administrative expenses to N20.6 billion also helped by way of some cost savings.
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