Champion Breweries Mulls Fresh Capital With Public Offer 

Champion Breweries Plc has rolled out its strategic future growth plans aimed at ensuring consistent dividend payment to shareholders.

The company, at its “Facts Behind the Figures Presentation” at the Nigerian Exchange Ltd.,(NGX) in Lagos, assured shareholders and the entire capital market community of enhanced dividends in spite of tough operating environment.

Dr Inalegwu Adoga, the company’s Managing Director, assured the stakeholders of its commitment  to growth and development.

Adoga said that the company’s focus remained on returning value to shareholders.

He re-affirmed the company’s plans to address its NGX free-float deficiency by issuing new shares to the public.

According to him, the public offer will take place in the first quarter of 2025.

“This initiative is expected to bolster the company’s infrastructure and enhance its production capacity, enabling it to meet the growing demand for its products,” he said.

The managing director said that the company had embarked on successful implementation of cost-saving measures, including shift to renewable energy and localisation of supply chains to enhance profitability.

Adoga said the company would prioritise action on renewable energy solutions by investing in progressive decarbonisation of its business.

He added that the company would reduce cost profile to remain competitive in the industry, saying that it was the only listed Nigerian brewery brand that reported profit in 2023 financial year.

He said the company would drive revenue growth through market expansion and deliver superior growth by increasing customer centricity.

Adoga added that the company would develop capabilities and a dynamic succession plan to attract and retain top talents.

According to him, the mission of the company is to become the undisputed market leader in beer and malt in the South South and South East.

Adoga said that most of the company’s suppliers were Nigerians and would be paid in local currency, thereby eliminating foreign exchange pressure.

He said the company had shown resilience in the past 50 years of operation while positioning itself for long-term growth and sustainability.

“Our nine months 2024 performance reflects our ability to adapt and grow in a challenging environment.

“We are confident that our investments in operational efficiency, renewable energy, and market expansion will position us for even greater success in the coming years,” he said.