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International Breweries Plc records 1.53% decline in YOY revenues

International Breweries Plc recorded decreased revenues in its contact with customers.

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Despite intensive advertising, International Breweries reported lower revenue and a loss 

International Breweries Plc reported revenue of N95.77 billion in 2020 9M, compared to N97.66 billion in the corresponding period of 2019.

Key highlights for 2020 9M

  • Revenue decreased to N95.77 billion, -1.53% YoY.
  • Administrative expenses decreased to N17.61 billion, -9.68% YoY.
  • Marketing expenses decreased to N8.42 billion, -28.76% YoY.
  • Pre-tax loss decreased to N17.72 billion, -26.40% YoY.
  • Earnings Per Share (loss) decreased to 0.4 kobo, -79.06% YoY.

Bottom Line

International Breweries Plc recorded decreased revenues in its contact with customers. Companies have generally recorded decreased revenues in the last three quarters mostly due to COVID-19. Pre-tax loss decreased, due to a reduction in administrative and marketing expenses that had constituted a drag on the company’s profitability.

Adeyemi holds a PhD in Accounting Sciences. He has worked in the Educational Sector and as an Independent Consultant.

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Company Results

Rak Unity Petroleum Company Plc Posts N63 million loss in 2020 FY results

Rak Unity Petroleum Company Plc reported revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

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Focus: This small-cap oil company is seriously lagging behind

Rak Unity Petroleum Company Plc released its 2021 FY results reporting total revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

  • Operating expenses during the year was N149.65 million in 2020 compared to N221.89 million in 2019. –32.56% YoY
  • The company reported a loss after tax of N63.02 million in 2020 compared to N14.52 million loss after tax in 2019.
  • It reported a loss per share of N1.11  in 2020 compared to N0.26 loss per share reported in 2019.
  • No dividend announcement was made in their press release.
  • The company share price of N0.30 unchanged YTD.

See link to results here

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Company Results

Conoil posts 23% post-tax profit decline in 2020 FY results

Conoil Plc reported a revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.

Published

on

Conoil Plc released its 2021 FY results reporting revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.  

  • Operating expenses during the year was N7.64 billion in 2020 compared to N9.68 billion in 2019. 20.9% YoY 
  • The company reported a profit after tax of N1.52 billion in 2020 compared to N1.97 billion in 2019. –22.97% cut YoY.  
  • It reported an earnings per share of 219 kobo in 2020 compared to 284 kobo earnings per share reported in 2019. 22.89% YoY. 
  •  No dividend announcement was made in their press release. 
  • The company share price of N20.85, up +0.72% YTD. 

See link to results here

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