Expanded capacity and enhanced market execution helped lift sales for International Breweries in fourth quarter
International Breweries, the Ilesha-based brewer owned by SABMiller, said on Tuesday that its revenue for the quarter ending March 31 2016 rose 13% to N23.3bn, from N20.6bn for the same period in the previous year.
International Breweries parent company SABMiller, commenting on in its global financial results for the quarter said that revenue was helped by a 31% rise in sales in its Nigerian operations on a 27% volume lift. It attributed strong results in the country to an expanded and increased capacity and enhanced market execution.
International Breweries increased marketing and promotional spend for the quarter by 26% to N3.6bn, from N2.9bn for the same period in 2015.
The brewer of Trophy Lager and Betamalt, among others, posted a higher pre-tax profit of 30% to N3.7bn, from N2.8bn for the previous year. Profit after tax also rose an impressive 36% to N2.7bn, from N2bn.
SABMiller, the parent company of International Breweries is in the process of being acquired by AB InBev, its bigger rival and the acquisition is expected to close in the second-half of this year.