International Breweries Plc has reported a profit of N11.9bn for the second quarter ended June 30, 2025, marking a turnaround from a loss of N47.3bn in the same period last year.
The company’s unaudited financial statements showed revenue increased to N167.4bn in Q2 2025 from N120bn in Q2 2024. Gross profit rose to N61.9bn from N33.8bn.
Operating expenses, including administrative, marketing and distribution costs, increased to N31.8bn from N27.2bn.
The company recorded a net finance income of N1.9bn in the quarter compared with a net finance cost of N21.9bn in Q2 2024.
Profit before tax stood at N26.5bn compared with a loss before tax of N61.8bn in the same quarter of 2024.
After accounting for income tax expense of N14.5bn, the company posted a profit after tax of N11.9bn, reversing the loss after tax of N47.3bn reported in Q2 2024.
Earnings per share for the quarter were seven kobo, compared with a loss per share of 176 kobo in the previous year.
Total assets as of June 30, 2025, stood at N706.6bn, down from N727.9bn recorded at the end of 2024.
Total equity increased to N490.2bn from N448.9bn in the previous year, while retained losses declined to N200.7bn.
The company recorded a net cash outflow of N22.1bn in the first half of 2025, mainly driven by investment activities and financing payments.
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