Nigeria: International Breweries report 11.67% growth in turnover for nine months till December 2017
International Breweries Plc has released its financial statements for nine months year ended 31st December 2017, the Nairametrics reported on April 5.
The result shows an 11.67% growth in turnover from ₦32.7 billion recorded in 12- months ended March 2017 to ₦36.52 billion in 9-months ended December 2017. Profit before tax for the 9-months ended December 2017 stood at ₦3.19 billion compared to ₦2.98 billion recorded in 12 months ended March 2017.
While profit after tax for the 9 months is ₦1.43 billion as against ₦1.03 billion in 12 months ended March 2017.
International Breweries Plc was incorporated as a private limited liability company in Nigeria on 22 December 1971, commenced business operations in August 1978 and became a public limited liability company on 26 April 1994 and listed on the Nigeria Stock Exchange.
The principal activities of the company continue to be brewing, packaging, and marketing of beer, alcoholic flavored/ non-alcoholic beverages, and soft drinks.
In 2017, AB InBev – the world’s largest brewer - acquired 72.17% of SABMiller shares in International Breweries Plc in a series of transactions which resulted in AB InBev acquiring controlling interests in the company.
On November 13, 2017, a merger arrangement was consummated between International Breweries Plc and two other entities namely, Intafact Beverages Limited and Pabod Breweries Limited all controlled by AB InBev.
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