International Breweries PLC has announced its unaudited third-quarter 2020 financial results, which showed a positive performance. The gross profit for the period at NGN 6.0bn was 46.7 per cent or NGN 1.9billion higher versus prior year.

The improved result was driven by an increase in top line growth, cost controls of administrative expenses, reduction of marketing and promotion expenses.

This information is contained in the International Breweries PLC unaudited third-quarter 2020 financial results.

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  states in Nigeria. Items donated include, alcohol- based hand sanitisers, 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.

IB PLC will indeed close the year strong with an improved balance sheet from prior year and value addition to its consumers even as the company gears up to excite its consumers even more as the peak season activities begin.

The Nation