Tag Archives: International Breweries Plc

International Breweries appoints new Board Chairman, COO

International Breweries Plc, the Ilesha-based brewer owned by AB InBev has named Mr. Sunday Akintoye Omole as its new Board Chairman effective 22 March, 2017.

Mr. Omole takes over from the erstwhile Managing Director and Board Chairman, Otunba Michael Daramola, who retired in line with the company’s Articles of Association.

International Breweries narrows loss in Q3 as low FX liquidity linger

International Breweries Plc (“IB Plc”), the Ilesha-based brewer owned by Anheuser-Busch InBev (AB InBev) on Tuesday reported a net loss of –N473m in the first nine months of its financial year (Apr – Dec 2016), a much smaller loss when compared to the first quarter and half-year when it recorded an abysmal –N1.7bn and –N1.9bn loss respectively.

Fourth Quarter will be just as tough for Nigerian Consumer Firms – Analysts

Some of Nigeria’s biggest companies suffered losses in the third quarter as the naira continued to depreciate against major world currencies and with inflation spiking to 18.3% as of October, amid a drop in consumer spending and foreign currency scarcity.

International Breweries losses grow as naira weakness persists

Naira weakness due to ongoing currency devaluation continues to hamper the performance of Nigerian manufacturers. International Breweries Plc, the brewer formerly owned by SABMiller Plc reported a net loss of N1.9bn for half-year (Apr – Sept), further widening its losses. In the first quarter of 2016, the brewer incurred a net loss of N1.7bn.

The Ilesha-based brewer known for its Trophy Lager, among others said that despite a strong quarter finish, where sales surged 33% to N13.5bn, from N10.1bn in the previous year, a 305% spike in foreign exchange loss to N99m, from N24m and a 455% jump in net finance cost to N4.4bn, from N790m erased all gains.

FX woes push International Breweries to first quarter loss

beer

International Breweries Plc on Thursday reported a net loss of N1.7bn for the first quarter of 2016/2017 fiscal year, a drop from last year when the brewer recorded N421m in profit.

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 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 reports a 48% profit decline in six months

International Breweries Plc, the Ilesha based brewer acquired by SABMiller in 2012, reported a 48 percent drop in net profit in the six months ended 30th September 2015, to N705 million, from N1.36bn recorded in the same period a year ago. Pretax profit also fell by 50 percent to N1bn, from N2bn in the same period in 2014.

The company saw a slight rise of less than 1-percent in revenue to N10.1bn, from N10bn in the prior year.

International Breweries (Q1) 2015 profit fall by 40.6%

International Breweries Plc, the Ilesha based brewer acquired by SABMiller in 2012 saw its first quarter (Q1) net profit for the period ended June 30, 2015 fall by 40.6 percent to N420.80 million, from N708.21 million recorded in 2014.

However, revenue for the company climbed to N5.22 billion, from N5.21 billion for the period in 2014.

The results also showed skyrocketing operating expenses and finance costs.