By InvestAdvocate

Lagos (INVESTADVOCATE) – Brewery Giants, Nigerian Breweries Plc Tuesday announced an increased Profit by 25.4 percent (25.4%) in the Audited Year End December 31 2011.

This is contained in the Result Announcement to the Nigerian Stock Exchange (NSE) and made available to www.investadvocateng.com in Lagos Nigeria.

To report the 25.4% profit, the Company recorded a Profit After Tax (PAT) of N38.025 billion in year 2011 end compared to N30.332 billion in year 2010.

Profit Before Tax (PBT) also grew from N44.880 billion in year 2010 end to N56.372 billion in the Audited Year Ended December 31 2011 indicating a growth of 25.6%.

While Turnover also increased from N185.862 billion in year 2010 end compared to N230.123 billion in year 2011 end; representing an increase of 23.8% in the review period.

As earlier reported by www.investadvocateng.com, Nigerian Breweries increased its dividend payment to investors of the Company by 25 percent (25%) in the 2011 Financial Year End (FYE).

To achieve the 25% increase in dividend payout to Investors, Nigerian Breweries in year 2010 end paid a total dividend of N2.40 Kobo compared to the proposed N3.00 for year 2011 end.

The proposed N3.00 dividend payout indicates a yield of 36% based on the current price of N98.00 Kobo in the review period.

Nigerian Breweries in the Corporate Action notified shareholders of the Company that the date of closure of register is 15th – 21st of March, 2012 while payment date is 17th of May, 2012.

The company’s Annual General Meeting is scheduled to take place on 16th of May, 2012 at the Muson Centre, Onikan, Lagos Nigeria.