Champion Breweries Plc has announced plans to hold its 49th Annual General Meeting (AGM) virtually, with Uyo, Akwa Ibom State serving as the official host location. The announcement comes on the heels of the company's remarkable financial performance in the first quarter of 2025.
According to financial reports released by the company, Champion Breweries recorded an impressive profit before tax of ₦1.74 billion in Q1 2025, representing a substantial 318% year-on-year increase. This marks a significant turnaround from the pre-tax loss of ₦798 million reported during the same period in 2024.
The company's profit after tax rose by 220% to ₦985 million, effectively reversing the post-tax loss of ₦824 million recorded in Q1 2024. Notably, this Q1 2025 performance already exceeds the entire post-tax profit recorded throughout 2024 by 21%.
Strong Revenue Growth and Operational Efficiency
Revenue figures show a remarkable 94% year-on-year increase to ₦8.483 billion in Q1 2025. The company's gross profit surged by 169.40% to ₦3.991 billion, while cost of sales increased at a more moderate rate of 55.06% to ₦4.492 billion, indicating improved operational efficiency.
Champion Breweries demonstrated continued cost discipline with selling and distribution expenses rising by only 24.06% to ₦1.253 billion. Additionally, net finance costs dropped significantly by 68.77% to ₦234 million, reflecting enhanced financial management.
The company's balance sheet remains robust, with cash and cash equivalents increasing by 30.25% to ₦5.615 billion, and total assets growing by 17.17% to ₦25.011 billion. Basic earnings per share (EPS) saw a substantial rise of 204.56% to ₦0.11.
Virtual AGM to Enhance Shareholder Participation
The decision to conduct the AGM virtually underscores Champion Breweries' commitment to promoting shareholder accessibility and participation while aligning with modern corporate governance practices.
Commenting on the development, the Company Secretary, Chief Tosan Atle Aiboni, stated: "Our upcoming AGM will offer shareholders a valuable platform to engage directly with the Board and Management as we reflect on our recent performance and outline our strategy for sustained growth. We remain steadfast in our commitment to delivering long-term value to all stakeholders."
The AGM will be live-streamed on the company's website at championbreweries.com/investor-relation/agm, allowing shareholders to participate remotely while maintaining full engagement with the proceedings.
Industry analysts attribute Champion Breweries' impressive performance to robust revenue growth, enhanced operational efficiency, margin expansion, and prudent financial management. The company's debt-free status further reinforces its financial resilience and appeal to investors in Nigeria's competitive brewing sector.
