NB Plc earns shareholders’ praise as recovery efforts spark new optimism
By Felicia Nwosu
Nigerian Breweries Plc has received an outpouring of commendations from its shareholders for the strategic measures that have set the company firmly on a path back to profitability despite the prevailing economic headwinds.
The accolades came during the company’s 79th Annual General Meeting, held virtually recently.
Chair of the Board, Mrs. Juliet Anammah, reflected on the tough but necessary decisions taken in 2024, emphasizing that the positive financial turnaround witnessed in the final quarter was evidence that the recovery strategies were gaining momentum.
She thanked the shareholders for their loyalty and patience, acknowledging that although no dividend was issued for the reporting year, the company’s return to profitability signals better days ahead, including the likelihood of resuming dividend payments soon.
Anammah highlighted that the successful completion of the rights issue and the recorded improvement in financial performance have bolstered confidence in the company’s future, setting Nigerian Breweries on a firmer footing to deliver lasting value to shareholders and stakeholders.
she expressed confidence in a gradual rebound in consumer spending through 2025 and assured investors that Nigerian Breweries is strategically positioned to strengthen its dominance in the market, even as competition in the beverage industry continues to intensify.
During the meeting, shareholder Ahmed Batula applauded the Board’s steady hand in navigating the business through turbulent times and for achieving a significant reduction in both domestic and international borrowings through proceeds from the rights issue.
Another shareholder, Robert Ibekwe, called on the leadership team to maintain prudent management of operations to accelerate the return to a consistent dividend-paying era.
Similarly, Siyanbola Adetutu praised the company for fostering gender inclusion across its Board and management structure, describing it as a progressive move that aligns with global best practices.
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