Champion Breweries Plc Recoups N9bn losses

0
105
Governor Udom Emmanuel of Akwa Ibom State

By; PATRICK TITUS, Uyo

Champion Breweries Pkc, producers of Champion Beer, Champ Malta, Amstel Malta, Champion, Heineken and Legend beer in Uyo Akwa Ibom State rose from a N9 billion loss to break even within the last two years according to annual reports.

The company’s  Managing Director, Mr. Patrick Ejidoh who disclosed this to newsmen in Uyo, the Akwa Ibom State capital, on Thursday, said the amount was an accumulated loss incurred years back.

Ejidoh also said that the company spent over N800 million to rebrand its alcoholic bottles adding that the beer is Q10 and can be consumed at room temperature.

The MD however lamented over the erratic power supply in the country saying the company uses no fewer than 12,000 litres of diesel on a daily basis to run the generators for its operations.

He also identified epileptic power supply as a major factor mitigating the growth of industries in Nigeria and a factor responsible for inflation in the country.

“The greatest challenge is the national disaster, we all know it, we run generator for 24hours every day, we use about 12,000 litres of diesel daily and you know how much it costs the company, we are groaning over the situation,” he said.

Ejidoh further said that efforts of the company to connect to the national grid in order to minimize the cost of running generators hit the brick walls as the company never had power up to 30% of its requirement adding that the power fluctuations could break down some of the sensitive machines

LEAVE A REPLY

Please enter your comment!
Please enter your name here