CHAMPION, a brewery, domiciled in Akwa-Ibom State, Nigeria was incorporated on 31st July 1974 as South East Breweries Limited. It was later renamed Cross River Breweries Limited. The company became Champion Breweries Plc on September 1, 1992 and its shares were quoted on the Nigerian Stock Exchange a year later.
Champion Lager Beer, its flagship product was launched in 1976. The company also produces Champ Malta, a non-alcoholic malt beverage. CHAMPION was shut down in 1990 due to working capital problem. It, however, resumed operation in 2001.
CHAMPION raised capital through rights issue and paid off its debts. Though it is debt free, the company's accumulated losses stood at NGN8.6 billion at the end of 2017 financial year. This prompted it to seek approval to write off its accumulated losses. We expect the company to resume payment of dividend soon and attract more investors.
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