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Revenue rose from ₦21.4bn to ₦51.4bn, largely reflecting the consolidation of enJOYbev B.V.
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Operating profit increased 48 percent to ₦6.3bn, while profit after tax rose modestly to ₦2.18bn.
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A ₦1.3bn deferred tax credit supported earnings, as acquisition-related financing costs and integration expenses weighed on performance.
November 4, (THEWILL) – Champion Breweries Plc grew its revenue by 140 percent to ₦51.4 billion in the nine months ended September 30, 2026, largely driven by the consolidation of enJOYbev B.V., which expanded the brewer’s business beyond its standalone operations.
The company’s unaudited results showed that revenue increased from ₦21.4 billion in the corresponding period of 2025, even as its standalone brewery business recorded lower sales volumes in line with broader industry trends.
Operating profit rose 48 percent to ₦6.3 billion from ₦4.3 billion, while profit after tax rose to ₦2.18 billion from ₦2.05 billion, up about 6 percent.
The gap between the sharp revenue expansion and the more modest increase in net profit reflects the costs associated with integrating the acquired business, financing the acquisition and expanding distribution.
Champion Breweries said disciplined pricing and product mix optimisation helped protect profitability amid weaker consumer demand. However, operating margin moderated as the group absorbed integration costs and continued spending on route-to-market expansion, brand development and distribution.
Tax Credit Supports Bottom-Line Growth
The company’s nine-month profit after tax included a net tax credit of approximately ₦1.3 billion, mainly arising from deferred tax recognised on temporary differences under the International Accounting Standard 12 (IAS 12).
The benefit was partly offset by higher finance costs linked to acquisition funding and prevailing interest rates.
The tax credit is significant when assessing the quality of the reported earnings, as it contributed to the increase in profit after tax despite the relatively modest improvement in operating profit.
The acquisition of enJOYbev has expanded Champion Breweries’ product categories and brand portfolio, reducing its dependence on a single beverage segment. The company said the enlarged business also provides opportunities to share distribution infrastructure and reach new markets and consumer groups.
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Managing Director Sampath Malolan said the results reflected the company’s ability to sustain profitability despite softer consumer spending and volume pressures across the industry.
He said the integration of enJOYbev had broadened the group’s growth platform and supported its ambition to build a diversified beverage business.
New Canning Line, Brand Relaunches Expected To Support Q4
Looking ahead, Malolan said the company expected brand relaunches, the commissioning of its new canning line and increased festive-season demand to support performance in the fourth quarter.
He said the new production line would provide greater packaging flexibility, while distribution expansion and brand investment were expected to improve market penetration.
Management said these initiatives would strengthen the company’s competitiveness, support revenue growth and enhance shareholder value over the medium to long term.
Champion Breweries is listed on the Main Board of the Nigerian Exchange Limited and produces alcoholic and non-alcoholic beverages. Following the acquisition of enJOYbev B.V., the company is positioning itself as a diversified beverage group with a broader platform for regional expansion.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
