International Breweries posts NGN1.3 billion profit for Q1

International Breweries posts NGN1.3 billion profit for Q1

International Breweries plc., Nigeria’s third largest brewer in its financial report for the first quarter of the year recorded NGN1.3 billion profit in contrast to NGN1.6 billion loss reported in the same period in the year 2016.

The balance shows that the brewery ended the period with NGN9.4 billion revenue compared to NGN6.8 billion in the previous year while gross profit was NGN4.2 billion against NGN3.4 billion in the year before.

The company’s total assets at the end of the quarter was NGN45.3 billion compared to NGN34.1 billion recorded same period 2016 while total liabilities was NGN30.1 billion against NGN21.7 billion in the year 2016.