Q1 2018 Results: International Breweries Plc records surprise first quarter loss

International Breweries Plc today released its financial statements for the period ended Q1 March 31st, 2018.

Here are the key highlights of the results;

Revenue

The company reported Revenue of ₦25.97 billion for the period ended March 2018 compared to ₦9.44 billion reported for the period ended March 2017. This represents a 175% increase for the comparative period in 2017.

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Profit Before Tax

Loss before tax was ₦2.56 billion for the period ended March 2018 as against profit before tax of ₦1.50 billion reported for the period ended March 2017.

Loss After Tax

The company’s loss after tax for the period ended March 2018 was ₦2.24 billion compared to a profit before tax of ₦1.36 billion reported March 2017.

Loss Per Share

International Breweries Plc also reported loss per share of 26 kobo for the period ended March 2018 compared to earnings per share of 41 kobo reported for the comparative period in 2017.