Champion Breweries’ pretax profit up 102%, revenue hits N7.05bn

Champion Breweries Plc has reported an increase of 102.42 percent in its profit before tax for the 2020 financial year.

The company saw its pre-tax profit rise to N418.16 million last year from N206.58 million in 2019, its annual report showed.

Its profit after income tax, however, declined to N158.79 million in 2020 from N168.51 million a year ago.

The brewing company said its revenue grew to N7.05 billion from N6.93 billion.

“The directors did not recommend any dividend during the year (2019: Nil),” it said.