International Breweries plc recorded lowered loss of NGN52.1 million for the first half of the year compared to NGN1.8 billion loss recorded same period in the financial year 2016.
The brewery ended the quarter with higher revenue of NGN17.4 billion in contrast to NGN13.4 billion it ended the previous year with while gross profit was NGN8.0 billion against NGN6.4 billion posted in the year before.
Operating profit for the period increased to NGN3.5 billion against NGN2.9 billion recorded in the fiscal year 2016 while finance cost was lowered to NGN2.2 billion against NGN4.4 billion in 2016.
Total assets disclosed by International Breweries was NGN46.7 billion compared to NGN35.2 billion acquired in 2016 while total liabilities was NGN32.9 billion versus NGN24.2 billion posted last year.
