Nigeria, July 30 -- Nigerian Breweries recorded a net profit of N88.4 billion in the first half of the year, in contrast to a net loss of N85.2 billion a year ago, as a considerable increase in revenue boosted earnings.

Net revenue for the six months to June accelerated to N738.1 billion from N479.8 billion a year ago, according to its unaudited financials released on Tuesday, setting the tone for a much-improved bottom line.

The beer maker turned the tables on a N112.3 billion net loss on foreign exchange transactions that threw its earnings into the negative territory a year earlier by posting a net gain of N7.3 billion in the review period.

Selling and distribution expenses rose 34.5 per cent to N130.7 billion, while administrative ...