4917036 said its fourth-quarter normalized net income was 2 kobo per share, a decrease of 13.0% from 2 kobo per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 116.2 million nairas, a decline of 34.2% from 176.7 million nairas in the year-earlier period.

The normalized profit margin declined to 10.1% from 17.0% in the year-earlier period.

Total revenue grew 10.1% on an annual basis to 1.15 billion nairas from 1.04 billion nairas, and total operating expenses rose 29.3% on an annual basis to 951.5 million nairas from 736.0 million nairas.

Reported net income fell 94.3% on an annual basis to 33.3 million nairas, or 0 kobo per share, from 589.9 million nairas, or 6 kobo per share.

For the year, the company's normalized net income totaled 2 kobo per share, compared with a loss of 21 kobo per share in the prior year.

Normalized net income was 155.3 million nairas, compared with a loss of 663.6 million nairas in the prior year.

Full-year total revenue grew on an annual basis to 3.42 billion nairas from 3.26 billion nairas, and total operating expenses totaled 3.21 billion nairas, compared with 3.23 billion nairas in the year-earlier period.

he company said reported net income totaled 77.1 m Champion Breweries PLC