Champion Breweries Reports Huge Profit for 2016

Champion Breweries, maker of Champ Beer and champ malt has released its full year financial report for 2016 which revealed a spectacular increase in revenue.

Net income rose with 203%, from N77m in the previous year (2015) to N530m in 2016 while the company witnessed a 10.37% revenue increase for the year to N3.9bn, from N3.5bn in 2015.

Administrative expenses fell 73% to N160m in the period under review while selling and distribution expenses rose 26% to N322m, from N256m in the previous year.

Champion Breweries is majorly owned by Raysun Nigeria Limited, a Heineken controlled company and manufactures Champion Lager beer and Champ Malta in Uyo, Akwa Ibom State. The products are marketed and distributed in the area and surrounding environs.

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