Nigerian Breweries 9-month pretax profit up 3.68 pct

 Nigerian Breweries, a unit of Heineken, said on Wednesday its nine month pre-tax profit rose 3.68 percent to 38.53 billion naira ($242 million), from 37.16 billion naira in the same period last year.

A Beer production line

Total revenue increased 5.27 percent to 190.30 billion naira, compared with 180.77 billion naira during the same period last year, the local unit of world's third largest brewer by volume said in a filing with the Nigerian Stock Exchange (NSE).
Heineken, the world's third largest brewer by volume, lowered its guidance for full-year profit after beer sales in eastern European dropped sharply and slipped in Brazil and in its large African markets.
Heineken said the weakness of the beer market in central and eastern Europe and difficulties in key developing markets, including Brazil, Nigeria, Egypt and the Democratic Republic of Congo, led to lower than expected lager sales.