Economy
Nigerian Breweries Woes Sink Q1 2019 Profit by 22%
By Dipo Olowookere
Since the Nigerian government introduced a new excise duty regime last year, which saw a rise in tax on alcohol and tobacco, Nigerian Breweries has been struggling. This had an effect on the company’s financial statements for the year ended December 31, 2018.
On Wednesday, the brewery giant, which faces a huge competition from other firms in its industry, released its financial scorecard for the first quarter of 2019.
A brief analysis of the results by Business Post showed that things are still gloomy, though revenue generated by the brewer improved in the period under review.
According to the financial statements, a total of N91.4 billion was netted as revenue in the first three months of this year against N88.5 billion in the same period of last year.
Nigerian Breweries said it paid N8.1 billion on excise duty in Q1 2019 compared with the N5.5 billion in Q1 2018, bringing its net revenue in the period under consideration to N83.3 billion versus N83 billion a year ago.
The company said in the first quarter of this year, its cost of sales increased, gulping N48.2 billion in contrast to N45 billion, leaving it with a gross profit of N35.1 billion, lower than N38 billion in the corresponding period of last year.
It was further revealed that the marketing and distribution expenses in Q1 2019 increased to N16.6 billion from N15.3 billion in Q1 2018. However, the administrative expenses reduced to N4.6 billion from N5.2 billion.
In the period under review, the finance income reduced to 9.4 million from N37.8 million, while the finance costs rose to N2.6 billion from N2.5 billion.
For the bottom line, the profit before tax depreciated to N11.5 billion from N15.3 billion, while the profit after tax closed at N8 billion against N10.2 billion a year ago, representing a 21.6 percent decline.
Also, the earnings per share, which gives a view of the profit made by each share of a company in a reviewed period, dropped to N1 from N1.28k.
Nigerian Breweries said during the three-months period ended March 31, 2019 it acquired, plant and equipment with a cost of N7.5 billion versus N6.7 billion a year ago.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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