Champion Breweries Plc, based in Uyo, Akwa Ibom, has expressed satisfaction with its performance in 2024, reporting a revenue of N21 billion for the year. This was revealed by the company’s Managing Director, Dr. Inalegwu Adoga, during a press briefing after the 'Drink & Win' consumer engagement event at Bae Arena in Uyo, Akwa Ibom State on Monday.
Dr. Adoga shared that the company achieved a 64.5% increase in revenue compared to the previous year, posting a significant rise to N21 billion. He also highlighted a 121% increase in profit after tax, with shareholder equity growing by over N1 billion. Earnings per share rose from N5.10 to N9.00, underscoring the company’s strong financial performance. "Last year was exceptional for us, and this level of success has not been achieved before," he stated.
The MD emphasized that Champion Breweries is quickly establishing itself as a major player in Nigeria’s beverage industry. He explained that the consumer engagement event, which attracted thousands of enthusiastic participants, was designed to reward loyal customers and strengthen the company's bond with the people of Akwa Ibom.
Dr. Adoga also discussed the "Drink & Win Bar Activation Promo," highlighting the company’s stronghold in its home market and the need to maintain visibility in Akwa Ibom. "We must make a statement of dominance as we elevate our game," he said, emphasizing that the event marked the beginning of a series of large-scale activations aimed at increasing brand visibility and consumer interaction in various districts within the state.
He further affirmed Champion Breweries' market leadership in Akwa Ibom, calling it "the official beverage of the state." He expressed gratitude to customers for their loyalty and support, particularly for the convenience offered by the company's one-way formats, now complemented by the introduction of can formats in the market.
Dr. Adoga also announced that the company is set to adopt solar energy as part of its commitment to environmental responsibility. “We are going solar and green soon as part of our eco-friendly core values. While it will reduce production costs, our primary goal is to decarbonise our operations to combat environmental pollution and ensure a sustainable future for generations,” he explained.
The company’s Marketing and Brand Manager, Queen Nwabueze, also spoke at the event, reiterating Champion Breweries' commitment to delivering high-quality, affordable beverages while promoting Akwa Ibom's indigenous culture. "Why pay more for less? Champion brands are crafted to perfection, priced for everyone, and available in all stores, bars, and sit-outs," she said. She also noted that the event was a way of giving back to the community and rewarding loyal customers for their continued support.
Winners of the raffle draws received prizes such as T-shirts, face caps, umbrellas, live chickens, bags of rice, cooking oil, tomato paste, and other exciting items.
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