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.