The market breadth closed positive as AIRTELAFRI led 26 Gainers as against 14 Losers topped by INTBREW at the end of today's session.
International Breweries Plc recorded decreased revenues in its contact with customers.
Market breadth index was negative with 16 losers against 13 gainers.
The Nigerian bourse ended the week cumulatively on a less impressive note.
BERGER led 17 Gainers as against 19 Losers topped by NEM at the end of today's session.
Beer makers saw their revenues plummet in the second quarter of 2020 as the economic shut down extinguished sales.
Guinness laid issues like port congestion, tax reforms and decline in alcohol pricing have eaten deep into the company's profit, affecting the operations of the company.
Despite aggressive marketing and advertising strategies in 2019, International Breweries Plc reported a drop in revenue and a loss.
International Breweries recorded a 9.7% y/y increase in Revenue to N132.4 billion in FY 2019 from N120.6 billion in FY 2018. While Revenue was up on...
Nigeria’s International Breweries will secure about N123 billion investment from Belgian company, AB InBev (Anheuser-Busch InBev).