International Breweries Plc (IBPLC) has released its 2022 first-quarter results, revealing a Gross Profits growth of 307% while Gross Margins expanded by +1800bps, 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, IBPLC 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 IBPLC, Hugo Dias Rocha, ā€œBased on a consistent commercial strategy, we are growing ahead of our industry. We have continued our journey to profitability, which translates into strong results. We remain committed to creating value for our stakeholders consistently.ā€

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; robust revenue management; and volumes growth ahead of the industry our revenue grew by nearly 50% in 1Q22. We saw consistent growth across all our portfolios.

Keeping the 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 40%.

As a testament to IBPLC’s commitment to recruiting and retaining talents who continue to thrive in an enabling and sustainable environment, IBPLC is recognised as the No 1 best place to work in the FMCG category and 5th on the list across various industries in Nigeria by LinkedIn.

To view the Q1 financials, please visit: https://doclib.ngxgroup.com/Financial_NewsDocs/35908_INTERNATIONAL_BREWERIES_PLC%20_QUARTER_1_%20_FINANCIAL_ST.pdf

Published on Brandfit.ng

Also published on https://www.brandfit.com.ng/2022/05/11/international-breweries-reports-first-quarter-2022-results/