International Breweries Plc has announced a N4.6billion sales increase in Q3 2020 in its unaudited third-quarter 2020 financial results.
The improved result the company noted was driven by an increase in top line growth, cost controls of administrative expenses, reduction of marketing and promotion expenses.
According to information contained in the International Breweries Plc unaudited third-quarter 2020 financial results showed a positive performance as the gross profit for the period at NGN 6.0bn was 46.7 percent. This is NGN 1.9bn higher than the previous year.
The financial indicates that revenue was positively impacted and in addition, the volumes of the company’s latest innovation, Trophy extra special stout supported the increase in revenue during the quarter.
“Building on the company’s vision of ‘Bringing People Together for a Better World’, International Breweries Plc within the quarter under review, supported communities by making donations of Covid relief items to support the fight against the pandemic across various states in Nigeria” a part of the statement reads.
Items donated include, alcohol- based hand sanitizers, non-alcoholic beverages (Beta Malt and Grand Malt), food commodities to aid the food distribution drive, a cash donation to the Nigeria Centre for Disease Control (NCDC) and medical consumables which include VTM (Gene Aid) test kit, 3-ply nose masks, infrared thermometers, face shields, reinforced protective gloves, and elbow length gloves.
International Breweries Plc will indeed close the year strong with an improved balance sheet from prior year and value addition to her consumers even as the company gears up to excite its consumers even more as the peak season activities begin.
