Tag Archives: International Breweries Plc

Budweiser rewards employees, trade partners

Budweiser

Budweiser, a premium brand of International Breweries Plc, a proud member of the AB InBev family has concluded plans to sponsor top-performing sales staff and distributors to watch select European Premier League matches as a way of rewarding and appreciating them for their hard work and commitment.

The company is rewarding a total of 54 persons for their performance in the recent financial year and to encourage them to do better.

AB InBev set to inject N123bn in Nigerian operation

International Breweries logo

Anheuser-Busch InBev (AB InBev) is said to have committed to investing more than N123bn in its Nigerian operation.

According to a report by the Nations’ Newspaper, sources at the weekend said AB InBev was in support of the rights issue planned by International Breweries Plc, its Nigerian subsidiary and had committed to participating fully in the new capital raising exercise.

The capital raising comes on the heels of growing debt at the brewing company as it seeks to grow its presence in the Nigerian beer market and take market share from its rivals, Nigerian Breweries Plc and Guinness Nigeria Plc. The company recorded a net loss of N4bn in fiscal year 2018 and the losses have continued into the first-nine months of 2019, recording N16.4bn in net loss.

Int’l Breweries to raise $458m through ‘rights issue’

International Breweries Plc products

International Breweries Plc said it plans to raise N165bn ($457.7m) in a share sale as it seeks to pay down mountain debt and reverse losses.

According to a Friday report by Bloomberg, current shareholders of the company may get share offers in November if the company gets clearance from Nigerian regulators, the company said in an email presentation on Thursday.

The company’s losses hit N16.4bn in the nine months through the end of September, from N7bn in the previous year, primarily driven by high finance cost.

Int’l Breweries losses continue to pile up as sales growth slows in Q3

International Breweries logo

International Breweries Plc on Monday reported yet another dismal result for the nine months to the end of September.

The brewing company posted a staggering N16.4bn in net loss for the periods of January through September ending, a 130% increase from last year when it incurred a net loss of N7.1bn. The firm recorded N9.6bn of its losses in the third quarter, a 124% increase from the previous year.

This is despite posting a 17% increase in sales in the nine months to N97.2bn. The growth, however, slowed down in the third quarter with a 5.5% decline in sales.

Brewers groan under the weight of excise duty increase amid revenue and profit declines

beer

Brewers in the country have called on the Federal Government to review its position on the excise duty increase that took effect in June 2018 as it is severely impacting their operations.

As quarterly results trickle in, one complaint has remained constant, the impact of the new excise duty on revenue and profits.

Int’l Breweries restates commitment to quality, Eco-friendly operations as it marks one year anniversary of Gateway Brewery

Gateway Brewery, Sagamu, Ogun State

International Breweries Plc, the AB InBev subsidiary in Nigeria has restated its commitment to serve Nigerians quality beverages from the world-class breweries it owns in – Ilesha, Osun State, Gateway in Ogun State, Port Harcourt, in Rivers State and Onitsha, in Anambra State.

The company’s Legal and Corporate Affairs Director, Michael Daramola, gave the assurance while on a tour of its Gateway Brewery marking its one-year anniversary.

Int’l Breweries Board sets price for Rights Issue

Trophy Lager

International Breweries Plc announced on Thursday that its shareholders at an Extra-Ordinary General Meeting (AGM) held on Tuesday, 15th October 2019 approved the ‘Rights Issue’ as proposed by the Board of Directors.

Following the shareholders’ approval, the Board of Directors convened and proposed a Rights Issue price of N9 per share.

International Breweries educates consumers on responsible drinking

International Breweries smart drinking

International Breweries Plc, the Nigerian unit of global brewer, Anheuser-Busch InBev has taken the message of responsible drinking to consumers, traders and the public as part of its commitment to responsible drinking in Nigeria.

The event is part of activities to commemorate Global Beer Responsible Day, an initiative started by its parent company AB InBev and celebrated across its operations worldwide as well as in contribution to the United Nations Goal 12 which is centered around Responsible Consumption and Production of alcohol.

International Breweries seeks Rights Issue to pare down mountain debt

Budweiser beer

International Breweries Plc (IB PLC) has notified the Nigerian Stock Exchange (NSE) of its intention to seek a “Rights Issue” following a meeting of the company’s Board of Directors on 18th September 2019.

In a statement sent to the NSE on Wednesday, the company said that the “Board of Directors of International Breweries Plc at its Board meeting held on 18 September, 2019 considered and approved a proposal for a Rights Issue as a form of Capital Raising for the Company.”

A rights issue is an issue of shares offered at a special discounted price by a company to its existing shareholders in proportion to their holding of old shares.

Tolulope Adedeji appointed to International Breweries Board of Directors

tolulope_adedeji_mkt_dir_ibplc

The Board of Directors of International Breweries Plc has appointed Tolulope Adedeji to its Board effective 18 September 2019.

In a statement released by the brewing company, it said that Ms Adedeji has extensive experience in building brands and businesses from scratch to market leadership.

She is currently the Marketing Director of International Breweries Plc where she leads the marketing teams in Nigeria and AB Inbev brands in Ghana. Some of the iconic brands under her leadership include Budweiser, Trophy, Hero, Club beer and Beta Malt.