International Breweries posts 18% net profit in nine months

Trophy Lager beer

International Breweries Plc, a SABMiller subsidiary has released its most recent financial results for the nine months ended 31 December 2015. It showed the brewer’s net profit rose 18% to N1.7bn, from N1.4bn recorded in the same period one year ago.

Pretax profit also rose by 7% to N2.4b, from N2.2bn in the same period in 2014.

The company also saw a top line growth of 7.49% to N16.4bn, from N15.3bn in the same period under review.

International Breweries’ parent company, SABMiller is in the midst of being acquired by Anheuser-Busch InBev, the world’s largest beer company by volume and sales. The new parent company is likely to introduce more products and increase marketing spend when the merger is finalized in the first half of this year.

International Breweries brands include Trophy Lager beer, Castel Lager, Grand Malt, Beta Malt, Redd’s RTD, among others.

International Breweries Plc Statement of Financial Results
Income Statement
9 Months Period Ended 31 Dec 2015 9 Months Period Ended 31 Dec 2014  
  Current Period Prior Period Change
  N’000 N’000 %
Revenue
Cost of sales
16,460,802
(8,168,684)
15,313,219
(7,812,267)
7.49
4.56
Gross Profit
Mkt, Admin, other exp
8,292,118
(4,843,468)
7,500,952
(4,161,415)
10.55
(16.59)
Total Oper activities
Other Income / (Loss)
Other gains / (Losses)
3,448,650
11,381
(169,341)
 3,339,537
5,877
129,387
3.27
93.66
(230.88)
Profit before finance income & charges
Finance Income
Finance Costs
3,290,690
222,436
(1,108,340)
3,474,801
1,319
(1,230,636)
(5.30)
16,764.02
(9.94)
Profit before Tax
Income Tax Expense
 2,404,787
(694,770)
 2,245,483
(796,341)
7.09
(12.75)
Profit After Tax  1,710,016  1,449,142  18.00
Earnings Per share (Kobo)
Diluted Earnings Per Share (Kobo)
52
52
44
44
18.00
18.00

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