Emboldened by its movement from a position of deficit to surplus, Champion Breweries Plc has promised shareholders of its determination to sustain the current growth with a view to achieving payment of dividend very soon.
Chairman, Dr. Elijah Akpan who stated this in Lagos on Thursday during the company’s 40th Annual General Meeting said Champion Breweries recorded substantial improvement in its trading results in the year under review compared to previous years.
According to him, revenue increased to N3.5 billion from N3.3 billion in 2014 while operating profit was N207 million as against N26 million recorded in 2014. Besides, profit before tax was N210 million away from N1.1 billion losses recorded in 2014.
The company’s successful conclusion of debt re-financing, increase in production and sales volume of Champion Lager Beer as well as re-introduction of Champ Malta has resulted in positive turnaround of the business performances during the year, he said.
He assured the shareholders of better days ahead, saying they will soon start enjoying the dividend of their investments. Considering our present financial position from deficit to surplus, our company has the right mindset and structures to achieve payment of dividend to you our dear esteemed shareholders in no distant time, he said.
Akpan who predicted stronger competition with on-going global mergers between brewing giants in the world, noted that the situation would lead to more innovations and inflow of new brands in the market.
He also expressed optimism in Nigeria’s outlook in 2016 which according to him is brightened by the large and varied opportunities in different sectors of the economy. We shall explore the available possibilities the Nigerian business environment is offering to increase our market share within our business region, he added.
Shareholders who were elated at the improved financial status of the company, urged the Board to remain resolute in continuously achieving cost optimization and innovation for increased profit.
