Tag Archives: International Breweries Plc

International Breweries to change its financial Year-end to December

International Breweries Plc (“IBPlc”) announced on Wednesday that it would be changing its financial year-end from 31 March to 31 December of every year.

In a statement released to the Nigerian Stock Exchange, the firm said that the first application would be for a nine months period ending 31 December, 2017.

AB InBev gets nod to merge its Nigerian breweries

International Breweries Plc (“IBPlc”), the Ilesha-based brewer owned by Anheuser-Busch InBev (AB InBev) announced on Tuesday it has received regulatory approvals from the Nigerian Securities and Exchange Commission (“SEC”) and the Nigerian Stock Exchange (“NSE”) to merge with its sister companies, Intafact Beverages Limited and Pabod Breweries.

First Quarter profit fall at International Breweries as input costs rise

International Breweries Plc reported a profit decline of 18% for the first quarter of 2017/2018 financial year despite seeing a record 37% surge in sales to N9.4bn, from N6.9bn. The company which makes Trophy Lager and Betamalt said that profit fell to N1.4bn, from N1.7bn in 2016.

International Breweries regains profitability at Year-end as revenue surges 41%

International Breweries Plc, said on Friday that year-end results for the 2016/2017 financial year ending on 31st March 2017 showed a 41% growth in revenue to N32.7bn, up from N23.3bn in the previous year.

The maker of Trophy Lager and Betamalt saw a 42% rise in Gross Profit, helped by increased capacity and further market penetration as noted by Anheuser-Busch InBev, its parent company to analysts. International Breweries spent more resources on promotions as marketing expense surged 142% to N5.09bn, from N3.6bn in the preceding year.

Anheuser-Busch InBev moves to merge its breweries in Nigeria

Anheuser-Busch InBev (AB InBev), the world’s largest brewer took steps on Tuesday to consolidate its operations in Nigeria.  International Breweries Plc, a subsidiary of the Belgian brewer announced on Tuesday that the Board of Directors of the three independently operated breweries controlled by AB InBev, namely International Breweries Plc, Intafact Beverages Limited and Pabod Breweries Limited have agreed to explore a merger of their operations subject to regulatory and shareholder approvals.

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

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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.