Shareholders of Nigerian Breweries Plc have praised the company's Board and Management for their efforts to restore profitability despite economic challenges in Nigeria. This sentiment was expressed during the 79th Annual General Meeting, held virtually on April 16, 2025.
Mrs. Juliet Anammah, the newly appointed board chair of Nigerian Breweries Plc, highlighted that the decisive actions taken by the company in response to economic and business realities in 2024 are showing positive outcomes. Anammah thanked shareholders for their patience and support during challenging times. She acknowledged that while no dividend was paid in the year under review, the net profitability recorded in the last quarter marks progress due to a successful business recovery plan executed in 2024. "This has placed the company on the path that will result in the resumption of dividend payment in the not too distant future," she stated.
Anammah further explained, "With the success of the rights issue coupled with the return to profitability in the last quarter of 2024, we are convinced that Nigerian Breweries is on the right path to improving its financial position and ensuring sustainable value creation for shareholders and other stakeholders."
She also expressed optimism about improved consumer spending in 2025 and noted that Nigerian Breweries is prepared to maintain its market leadership amidst aggressive competition within the commercial beverage sector.
Shareholder Ahmed Batula commended the Board for guiding the company through a turbulent period and returning it to profitability. Batula noted that significant reductions were made to both local and foreign debts using capital raised from a rights issue.
Another shareholder, Robert Ibekwe, emphasized efficient management as crucial for quickly resuming dividend payments. Siyanbola Adetutu praised Nigerian Breweries for promoting gender diversity at both Board and Management levels.
Nigerian Breweries remains Nigeria's pioneer and largest brewing company, known for high-quality brands, ethically sourced raw materials, and consumer satisfaction.
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