Champion Breweries Plc’s financial performance for the year ending March 31, 2021, has been praised by its shareholders. The company’s profit before tax, or PBT, increased by 313.9 percent to N1.73 billion from N418 billion in the same time in 2020.
Additionally, the company’s post-tax profit increased by 52% to N984.2 million from N158.8 million in 2020. From N7.05 billion in 2020 to N10.5 billion, the revenue increased by 46%.
Champion Breweries Plc Chairman Dr. Elijah Akpan told shareholders during the company’s 46th Annual General Meeting (AGM) in Lagos that the company’s success the previous year was exceptional and a sign of brighter times to come.
“The Company maintained its trajectory in achieving profitability during the reporting year,” he stated. Compared to the previous year, revenue climbed by N3.5 billion, while operating profit jumped dramatically to N1.74 billion. Before taxes, profit rose to N1.73 billion.
Dr. Akpan remembered that Champion Breweries Plc had previously had difficult times, but that it is currently in profitable territory with the help of stakeholders.
He pointed out that a number of factors, including rebranding Champion Beer and Champ Malt and having a strong sales team to boost product sales, combined to produce this year’s outstanding outcome.
“The Company maintained its trajectory in achieving profitability during the reporting year,” he stated. Compared to the previous year, revenue climbed by N3.5 billion, while operating profit jumped dramatically to N1.74 billion. Before taxes, profit rose to N1.73 billion.
Dr. Akpan remembered that Champion Breweries Plc had previously had difficult times, but that it is currently in profitable territory with the help of stakeholders.
He pointed out that a number of factors, including rebranding Champion Beer and Champ Malt and having a strong sales team to boost product sales, combined to produce this year’s outstanding outcome.
