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.