FY 2019: Champions Breweries records 163.8% loss percentage in profit after tax

Champions Breweries Plc has released its financial statements for full-year 2019. The financial statement demonstrates a fair performance across most financial indicators. The breakdown of the report is shown below:

Revenue: Champions Breweries generated N6.9 billion in revenue as at December 2019, compared to N4.7 billion recorded at the end of the 12 month period of 2018. This represents a revenue increase of 45.4%.

Gross Profit: As at December 2019, the brewer recorded N1.9 billion in gross profit, up from N1.1 billion recorded at the end of December 2018, representing a gross profit of 62.2%.

Profit Before Tax: As at the fourth quarter of December 2019, the firm recorded N206.5 million as profit before tax, compared to N255.4 million recorded by the firm as loss before tax at the end of December 2018. This represents a decline of 180.8%.

Profit After Tax: Champion Breweries recorded a profit of N168.5 million for the 12-month period of 2019, as against a N263.8 million loss recorded at the end of December 2018, representing a 163.8% loss percentage in profit after tax.

Earnings Per Share: The group's Earnings Per Share stood at a 2kobo for full-year 2019 compared to 3kobo loss recorded at the end of December 2018.