Data from The Nigerian Brewery audited financial statement for the year 2023 shows a loss before tax of N145.2 billion and a loss after tax of N106.3 billion which gives tax credit of N38.9 billion due to the loss. However, in contrast with the result reported for the year 2022, the company recorded a profit before tax of N17.341 billion and a profit after tax of 13.187 billion which gives tax loss of N4.15 billion.
| Consolidated Profit & Loss Statement | (N ’000) 2023 | (N ’000) 2022 | Change | %Change |
| Revenue | 599,643,031 | 550,637,994 | 49,005,037 | 8.90 |
| Gross Profit | 212,610,459 | 213,327,557 | -717,098 | -0.34 |
| Profit Before Tax | -145,224,271 | 17,340,549 | -162,564,820 | -937.48 |
| Profit After Tax | 106,307,557 | 13,186,761 | 93,120,796 | 706.17 |
The Company was able to grow its revenue by 9% compared to the previous year aided by positive price mix.
Nigeria Breweries retained loss is N26.2 billion which means shareholders cannot pay dividends in 2024 and possibly in 2025.
