|
Nigerian Breweries Plc, the foremost
brewer in the country, has explained that the N314 billion revenue it recorded
in the 2016 financial year is as a result of its twin agenda of Cost Leadership
and Market Leadership supported by Innovation.
Managing Director of the Company, Mr.
Nicolaas Vervelde explained to journalists at a media briefing in Lagos on
Tuesday, ahead of its Annual General Meeting,that the analysis of the audited
results shows that the N314 billion revenue represents a 6.7% growth from the
N293 billion it recorded in 2015. The declared total dividend of N3.58 per
share is also a 100% earnings pay out.
“When all factors are considered, our
results have been positive and creditable over the years. Despite the
deterioration in consumer purchasing power, our robust brand portfolio which
covers a broad spectrum of consumer needs enabled us to protect revenue and
profitability,” he said.
“The operating environment in 2016
was very challenging especially from an input cost, FOREX and purchasing power
perspectives. Our volume growth was in the mid-single digit region, coupled
with the price increases that we implemented positively impacted our revenue
growth, “he added.
Meanwhile the Board of the company has
recommended a total dividend of N28, 386, 181, 179 (Twenty Eight Billion, Three
Hundred and Eighty Six Million, One Hundred and Eighty One Thousand, One
Hundred and Seventy Nine Naira only), for approval at the forthcoming Annual
General Meeting which holds on May 3, 2017. The total dividend amounts to N3.58
(three Naira fifty kobo) per ordinary share of fifty kobo each for the 2016
financial year.
It would be recalled
that the company had earlier paid an interim dividend of N7.9 billion that is,
N1.00 (One Naira only) last year to its shareholders. Thus, the final dividend
will be N20. 5 billion that is, N2.58 (Two Naira fifty kobo) per share.
According to Vervelde, the operating
environment in 2017 is expected to be similar to 2016, but the company is
confident that it is well positioned to adapt to the operating environment as
required, and stay committed to delivering a good return on investment to
shareholders.
0 comments:
Post a Comment