International Breweries, the beer company owned by SAB Miller has just released its Q1 revenue report showing a positive result for the company.
The company’s headline gross revenue grew from NGN 20.6 billion same quarter last years to NGN 23.2 billion in Q1 2016. This a growth of 12.6 year on year.
However, the company’s cost of sales is rose by 18.8%. This understandable as the quarter had series of disruption in social and economic activities due to fuel scarcity and power failures.
As a going concern, the company’s asset is NGN 33 billion as opposed to NGN 19 billion liabilities. Its total borrowing is put at NGN 8.5 billion. The company’s net profit is NGN 2.6 billion. This is a better result compared to Guinness PLC, a bigger rival second to Nigeria Breweries.
The company with its base in the South East and South South region of Nigeria is under pressure from Nigeria Breweries and Guinness PLC who are scaling up their competitive activities to fight for more market share.
In recent times, International Breweries has made serious inroads into the South West a strong turf for both Nigeria Breweries and Guinness PLC. The next quarter will determine if it can withstand competition.