Daily Archives: October 31, 2018

Int’l Breweries loss widens on higher expenses, finance charge despite strong sales growth

International Breweries Plc (“IB Plc”) said it rang-up a net loss of ₦7.1bn for the first nine months of 2018. This is despite seeing a revenue growth of 128% to ₦83bn in the period from ₦36.5bn in the prior year.

The Nigerian unit of Anheuser-Busch InBev said skyrocketing net finance cost was to blame as it rose 187% to ₦9.2bn.

Beta Glass earnings surge 58% in nine months on strong revenue growth

Higher sales boosted net earnings of Beta Glass Plc in the first nine months of 2018.

In the release of its financial results, the company said that net income rose 58% to ₦3.5bn in the periods, January-September, from ₦2.2bn in the same period last year.