International Breweries Records N2.56bn Loss, Stocks Resume Fall

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  • International Breweries Records N2.56bn Loss, Stocks Resume Fall

International Breweries Plc has reported a loss before tax of N2.56bn for the first quarter period ended March 31, 2017.

This represented a decline compared to the profit of N1.50bn reported a year ago.

This was contained in the firm’s results filed with the Nigerian Stock Exchange on Thursday.

It reported a first quarter revenue of N25.97bn as against N 9.44bn recorded a year ago.

Meanwhile, at the close of trading on the floor of the NSE on Thursday, the NSE All-Share Index depreciated by 0.48 per cent to close at 41,107.81 basis points

The depreciation was stimulated by losses in the share prices of International Breweries, Dangote Cement Plc, Nigerian Breweries Plc, Unilever Nigeria Plc, and Dangote Sugar Refinery Plc.

The equities market capitalisation depreciated by 0.48 per cent to close at N14.89tn, compared with the marginal appreciation of 0.09 per cent recorded on Wednesday.

The three most actively traded stocks were UBA Plc (79.90 million), Access Bank Plc (57.03 million) and E-Tranzact International Plc (20.31 million).

In the fixed income market, the 30-Day, 90-Day and 180-Day NIBOR increased to 11.27 per cent, 12.94 per cent, and 14.20 per cent, respectively

Nigerian Treasury Bills rates went up by an average of 10 basis points as there was some sell-off of bills.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years experience as a foreign exchange research analyst and trader.

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