NIGERIAN BREWERIES-PAT DECLINE BY 27.76% to N13.319 Billion

 
Gross Earnings: The firms Gross earnings declined marginally by 1.44% from N173.310Billion to N170.812Billion, this was as a result of a 9.55% decline from Finance income that decline to N199 Million from N220 Million.
Gross Operating Expenses: The firms gross operating expenses consist of Cost of Goods and other Operating Expense that recorded a marginal increase of 3.3% period under review for, while the increase recorded in advertising & sales expenses, distribution and Repair & Maintains were by 17.2%, 7.8% and 13.9% respectively.
Bottom Line: The firms bottom line did decline by 27.76% from N18.436 Billion in june2018 as against N13.319 Billion for June, 2019, the major contributing factor to the decline recorded in the breweries bottom line was its finance cost that did increase by 22.51%, this was as a result of interest expenses inching higher by 52.17% and other net finance expenses inching higher by 33.33%.