International Breweries Plc, has announced its unaudited third-quarter 2020 financial results, with N4.6 billion sales increase in Q3 2020. The Gross profit for the period at N6.0 billion was 46.7 per cent. The result is N1.9 billion higher than the previous year’s record.
According to the statement made available to newsmen, the improved result was driven by an increase in top line growth, cost controls of administrative expenses, reduction of marketing and promotion expenses. “Revenue was positively impacted and in addition, the volumes of the company’s latest innovation, Trophy Extra Special Stout supported the increase in revenue during the quarter. Building on the company’s vision of ‘Bringing People Together for a Better World’, IB Plc within the quarter under review supported our communities by making donations of COVID-19 relief items to support the fight against the pandemic across various states in Nigeria. “Items donated include, alcohol- based hand sanitizers, non-alcoholic beverages (Beta Malt and Grand Malt), food commodities to aid the food distribution drive, a cash donation to the Nigeria Centre for Disease Control (NCDC) and medical consumables which include VTM (Gene Aid) test kit, 3-ply nose masks, infrared thermometers, face shields, reinforced protective gloves, and elbow length gloves,” the statement added.