International Breweries Plc (IB PLC) has released its 2022 first quarter results, revealing a Gross Profits growth by 307per cent while Gross Margins expanded by +1800basis points, delivering a positive operating profit of N7.8 billion (excluding net FX losses) and Profit Before Taxes of N1.9 billion amidst cost headwinds.
Through this profitability, IB PLC further strengthened its brands through powerful campaigns and commercial actions to grow in the market leveraging on resilient consumer demand to drives volume growth ahead of industry, with significant revenue and profit growth.
According to the Managing Director of IB PLC, Hugo Dias Rocha, “Based on a consistent commercial strategy, we are growing ahead of our industry.
“We have continued our journey to profitability, which translates in strong results. We remain committed to create value to our stakeholders consistently.
“Building on top of the momentum of a strong FY 2021, our business started 2022 on a positive note. On the back of firm consumer demand for our brands; a robust revenue management; and volumes growth ahead of industry our revenue grew by nearly 50per cent in 1Q22. We saw consistent growth across all our portfolio.
“Keeping focus on profitability, we have enabled our High-End Company brands to grow healthy in the market. Our global brand, Budweiser and our newest innovation, Trophy Extra Special Stout are on a growth path as part of the High-End growth of above 40per cent.”
As a testament to IBPLC commitment to recruit and retain talents who continue to thrive in an enabling and sustainable environment, IBPLC is recognition as the No 1 best place to work in the FMCG category and 5th on the list across various industries in Nigeria by LinkedIn.
