International Breweries Plc records 1.53% decline in YOY revenues

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.