Champion Breweries Plc has reassured its shareholders that the company will maintain its growth trajectory despite the prevailing macroeconomic challenges in Nigeria. Speaking about the company’s performance and future outlook, the Chairman, Imo-Abasi Jacob, described the brewer’s 50th anniversary as a major milestone, noting that the company has recorded significant growth over the last three years following the emergence of a new core investor.
According to him, the firm has transitioned from periods of struggling with profitability to a phase of aggressive expansion and improved financial performance. He stated that the board is focused on ensuring that growth remains sustainable through strong corporate governance, effective oversight, and strategic management. He explained that the company has strengthened the oversight functions of its board committees, including risk management, finance, and investment committees, to ensure a balance between growth, profitability, and governance.
Jacob expressed appreciation to investors for the confidence shown during the company’s capital raise, particularly in supporting major projects, including the acquisition of a bottling facility. He noted that the market responded positively to the fundraising exercise, with the company’s share price remaining stable even after the capital raise, which he said reflected investor confidence in the company’s direction.
The chairman assured shareholders that the board and management would continue to work diligently to sustain that confidence and improve performance across all operational indices. He added that the company’s return to consistent dividend payments after years without payouts demonstrates the progress made in recent years. According to him, the company has now paid dividends for three consecutive years, beginning with a bonus dividend and followed by cash dividends in subsequent years. He also pointed out that the board’s objective is to ensure that the company continues to grow sustainably while maintaining regular dividend payments to shareholders.
On market competition, Jacob acknowledged that prevailing macroeconomic conditions have affected household spending, making affordability a key challenge for manufacturers. He said the company is responding by improving product availability and reducing distribution costs. He disclosed that the firm plans to launch a canning line later this year to strengthen its product distribution network and improve market penetration. He explained that the move would enable the company to achieve a better product mix between bottles and cans while ensuring wider availability of its products across markets.
Jacob further noted that the company’s strategy is centered on measured and sustainable growth rather than short-term expansion, stressing that the board remains committed to ensuring long-term profitability and value creation for shareholders. He assured that following the successful conclusion of a rights issue that has increased its issued share capital, the firm now operates from a more stable and resilient platform of improved profitability, a strengthened capital base, and a clearer strategic direction. According to him, this will be achieved through the implementation of appropriate structures aimed at enhancing operational efficiency, expanding market share, and integrating strategic acquisitions. He added that this would also be achieved through operational discipline, strategic investment, and the effective integration of recent initiatives.
