Champion Breweries Plc reported an after-tax profit of N881.5 million for the three months ended March 31, 2026, down from N984.6 million recorded in the same period of 2025.
According to the interim financial statements for the three months, revenue rose to N14.36 billion from N8.48 billion in the corresponding period of 2025, driven by volume across product lines and the inclusion of newly consolidated subsidiary operations following the acquisition of EnjoyBev B.V. in February 2026.
Cost of sales increased to N8.20 billion from N4.32 billion, reflecting higher raw materials and consumables costs, which rose to N6.83 billion from N2.95 billion, alongside increases in energy and water and production-related inputs.
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Gross profit stood at N6.16 billion compared with N4.17 billion in the prior year, supported by revenue growth.
Selling and distribution expenses rose to N2.03 billion from N1.25 billion, driven by higher distribution costs and increased advertising and sales expenses, which grew to N753.9 million from N180.2 million. Administrative expenses increased to N1.13 billion from N953.4 million, reflecting higher employee benefits of N1.04 billion and other overheads.
Operating profit rose to N3.02 billion from N1.97 billion on the back of higher revenue.
During the period, the Uyo-based manufacturer disclosed that finance income increased to N804.4 million from N59.5 million, while finance costs rose to N3.05 billion from N293.9 million, driven by other finance expenses of about N3 billion, resulting in a net finance cost of N2.18 billion compared with N234.5 million in the prior year.
Profit before tax declined to N839 million from N1.7 billion as higher finance costs offset gains from operations. Income tax expense stood at N42.2 million compared with a tax credit of N755.4 million in 2025.
Earnings per share fell to 59 kobo from 110 kobo.
On the balance sheet, total assets rose to N132.48 billion from N25 billion reported in the same period of 2025, driven by increases in property, plant, and equipment and the consolidation of the foreign subsidiary. Total equity increased to N68.29 billion from N13 billion, supported by new share capital of N1.19 billion and share premium of N35.78 billion raised during the period.
Cash generated from operations was N2.00 billion, while net cash from operating activities declined to N1.33 billion from N2.05 billion, reflecting changes in working capital, including increases in trade receivables and inventories.
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The company said the period marked its first set of consolidated interim financial statements following the acquisition of an 80 percent equity interest in EnjoyBev B.V., with the subsidiary’s results included from February 26, 2026.
Champion Breweries is currently the 52nd most valuable stock on the NGX with a market capitalization of N159 billion, which makes about 0.111 percent of the Nigerian Stock Exchange equity market.
The beer maker closed its last trading day on Monday at N14.05 per share, reflecting a 0.36 percent gain year-to-date.