International Breweries Plc has reported a pre-tax profit of N35.06 billion for the first quarter ended March 31, 2025, recovering from a loss of N89.3 billion during the same period last year.
This shift is primarily attributed to an increase in revenue and a reduction in expenses related to foreign exchange losses.
Revenue from the sale of beer and non-alcoholic malt beverages rose by 68.2%, increasing from N103.2 billion in Q1 2024 to N173.6 billion.
- However, the cost of sales also increased by 53.3%, reaching N113.9 billion, up from N74.3 billion in the previous year.
Notwithstanding, gross profit increased to N59.6 billion, which is a 106.7% rise year-over-year.
Less favorably, administrative and selling expenses spiked to N27.4 billion from N21.8 billion in the prior year.
- However, the company significantly reduced other expenses, primarily consisting of net foreign exchange losses, to N581.4 million from N80.5 billion in Q1 2024.
- As a result, operating profit rose to N31.5 billion, compared to a loss of N80.5 billion in Q1 2024.
Total assets were reported at N742.9 billion, reflecting a modest increase of 2.07%.
Key Highlights:
- Revenue: N173.6 billion, +68.2% YoY
- Cost of sales: N113.9 billion, +53.3% YoY
- Gross profit: N59.6 billion, +106.7% YoY
- Administrative, marketing, and distribution expenses: N27.4 billion, +25.7% YoY
- Other expenses: N581.4 million, +99.3% YoY
- Operating profit: N31.5 billion, +139.1% YoY
- Pre-tax profit: N35 billion, +139.2% YoY
- Total Assets: N742.9 billion, +2.07% YoY
As of the close of trading on April 28, 2025, shares of International Breweries were priced at N8.47, with a year-to-date performance of 152.6%.
