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International Breweries posts 9M 2017 turnover of ₦36.2 billion

Fikayo Owoeye by Fikayo Owoeye
April 5, 2018
in Business News, Company News
International Breweries posts 9M 2017 turnover of ₦36.2 billion
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International Breweries Plc has released its financial statements for nine months year ended 31st December 2017.

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.

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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-world’s largest brewer acquired 72.17% of SABMiller shares in International Breweries Plc in a series of transactions which resulted in ABInBev 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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Tags: International Breweries PlcNine months financial statement result
Fikayo Owoeye

Fikayo Owoeye

Fikayo has a degree in computer science with economics from Obafemi Awolowo University. ITIL v3 in IT service management. An alumnus of Daystar Leadership Academy. Prior to joining Nairametrics had stinct in Project management, Telecommunications among others. Also training in Consulting and Investment banking from Edubridge Academy. He has very keen interest in Politics, Agri-business, private equity and global economics. He loves travelling and watching football. You can contact him via fikayo.owoeye@nairametrics.com

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