Akwa Ibom based beverage bottling company, Champion Breweries PLC and makers of the award winning Champion Larger beer have declared its profit for 2016.
According to its financial reports made available by Page One, the company recorded NGN1.0 billion gross profit for fourth quarter 2016 compared to NGN999.6 million recorded same period 2015 with an operating profit of NGN617.6 million in contrast to NGN206.7 million recorded same period 2016.
Champion breweries recorded NGN637.3 million as profit before tax for the year in review compared to NGN210.1 million recorded in 2015.
Consequently, the profit for the year rose by 587% to NGN530.3 million compared to NGN77.1 million recorded in the financial year 2015.
Champiom breweries ended the year with revenue of NGN3.8 billion compared to NNG3.5 billion it ended the year 2015 with. Its cost of sales for the year was NGN2.7 billion in contrast to NGN2.5 billion recorded in 2015.