International Breweries Plc reported a profit of ₦29.38 billion for the first quarter (Q1) ended 31 March 2025, according to the company’s unaudited financial statement.
This was better than the ₦60.39 billion loss recorded in the same period of 2024 following a series of turnarounds in financial performance driven by strong revenue growth and operational recovery.
Revenue rose by 68 percent year-on-year to ₦173.63 billion, up from ₦103.22 billion in Q1 2024, supported by increased sales volumes and pricing adjustments.
The company’s cost of sales also grew but at a slower pace, allowing gross profit to more than double to ₦59.63 billion from ₦28.85 billion recorded in the previous year.
Operating profit stood at ₦31.53 billion, reversing the ₦80.58 billion operating loss recorded in Q1 2024.
This turnaround was achieved despite a rise in administrative marketing and distribution expenses which increased by 25.7 percent year-on-year to ₦27.49 billion.
The company’s finance income rose sharply to ₦5.49 billion compared to ₦859.79 million a year earlier, reflecting better cash management and investment returns.
Finance costs declined significantly to ₦1.96 billion from ₦9.64 billion in Q1 2024 further boosting the company’s net finance position which moved from a net cost of ₦8.78 billion to a net income of ₦3.53 billion.
Profit before tax stood at ₦35.07 billion compared to a loss before tax of ₦89.35 billion in the corresponding quarter of 2024.
After accounting for income tax expenses of ₦5.69 billion, International Breweries closed the quarter with a strong net profit of ₦29.38 billion.
The company also reported a basic and diluted earnings per share of 30 kobo compared to a loss per share of 62 kobo a year earlier underlining the magnitude of the financial recovery.
The performance reflects effective cost containment, improved revenue generation and favorable shifts in financing activities.
However, rising administrative and distribution expenses signal areas that management must monitor closely to sustain profitability through the rest of the year.
International Breweries Plc’s Q1 2025 results demonstrate resilience and strategic recovery, positioning the company for stronger earnings momentum if market conditions remain favorable and internal cost discipline is maintained.
