Transcorp, Nigerian Breweries record first-half pretax profit

Transnational Corporation Nigeria’s first-half pretax profit fell by 35.6 percent to ₦5.16 billion ($25.94 million), from a year ago.

Revenue at the conglomerate, which has interests in hotel, power generation, oil and gas, fell to ₦20.25 billion in the period to end-June against ₦21.21 billion last year, the company said without giving any reason for drop in earnings.

NB first-half pretax profit falls 8.5 pct

Nigeria Breweries said on Tuesday its first half pretax profit fell 8.5 percent, year-on-year, to 30.99 billion naira ($155.8 million).

Revenues grew 7.2 percent to 151.67 billion naira during the six months to June 30, the local unit of Heineken said in a filing with the Nigerian Stock Exchange.