Manny Ita
International Breweries Plc recorded a profit before tax of N85.1 billion in the 2025 financial year, marking a significant recovery from the N111.8 billion loss posted in 2024. The company’s latest financial statements, filed with the Nigerian Exchange, show that full-year sales rose to N620.1 billion, representing a 26.83 percent year-on-year increase. Gross profit grew to N204.4 billion, up 55.65 percent from the previous year, while operating profit rebounded to N73.7 billion, compared with an operating loss of N91.07 billion in 2024. Finance income increased to N18.08 billion, a 29.07 percent rise, and finance costs fell sharply to N6.7 billion from N34.7 billion, contributing to the improved bottom line.
The turnaround was driven primarily by strong revenue growth from beverage sales, combined with lower foreign exchange losses and a reduction in other expenses. Of the N620.1 billion revenue recorded for the year, the fourth quarter contributed N147.5 billion, accounting for nearly 24 percent of total sales. Cost of sales increased to N415.7 billion from N357.6 billion, largely due to higher material consumption and allocated overheads, while administrative, marketing, and distribution expenses rose to N128.1 billion from N108.4 billion. Despite the increased spending, the decline in foreign exchange losses—from N113.5 billion in 2024 to N2.9 billion in 2025—helped drive profitability.
Total assets increased slightly to N741.5 billion from N727.8 billion, with property, plant, and equipment representing N339.8 billion. Total equity strengthened to N512.2 billion from N448.9 billion, with share premium accounting for N673.1 billion. Retained losses narrowed to N178.6 billion from N241.9 billion a year earlier.
Market reaction to the results was muted, with International Breweries’ shares down 3.79 percent month-to-date in February 2026, trading at N13.95. Analysts noted that while short-term price movement remained limited, the company’s improved fundamentals provide a more positive outlook for investors going forward.
