Nigerian Breweries

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NB to sustain dominance in market with focus on low cost beer

Meanwhile the seasonality in the brewer’s sales (with historically weak Q1 turnover, contributing less than 23.0 percent to full year numbers) continues to play out its revenue profile as seen in these results. Despite the dip in profitability margins, Afrinvest views these results as generally positive and remain upbeat on the medium to long term prospects of the brewer.

They however reiterated their belief that the brewer’s focus on the low cost beer market should sustain its dominance of the Nigerian beer market characterised by a bottom heavy population and a slowly growing middle class. Based on these results, NB now trades at trailing Price/Earnings and Price/Book Value multiples of 19.3 times and 8.8 times respectively, relative to 18.7 times and 3.7 times for Guinness.

[Salida]

Nigerian Breweries unveils Life Lager in Onitsha

[Salida]

Nigerian Breweries attributes huge turnover to products improvement

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Boko Haram Attacks Hurting Sales at Nigerian Breweries, CEO Says - Bloomberg

“People are more reluctant to go out and retail sales in the more insecure areas are under pressure,” Chief Executive Officer Nicolaas Vervelde said in an interview yesterday in Lagos, Nigeria’s commercial capital. The north, which had been growing “in line” with the rest of the market through malt drinks in recent years, “is doing less than what we see elsewhere in the country,” he said.

Hmmmmm......2nd qtr result will reveal more!