During its 46th annual general meeting held in Lagos, International Breweries Plc, a company specializing in beer and non-alcoholic beverages, announced that it achieved a gross profit of N43.7 billion in the 2022 financial period. The company also disclosed that its revenue had risen to N218.7 billion by the end of the 2022 financial period, compared to N182.3 billion in the previous year.
Despite facing challenging economic circumstances, the company acknowledged a decrease in gross profit from N46.4 billion in 2021 to N43.7 billion in 2022. On the other hand, finance income witnessed an increase from N3.1 billion in 2021 to N5.2 billion in 2022.
International Breweries Plc also revealed that its net finance cost experienced a significant rise, reaching N5.6 billion in 2022 compared to N1.8 billion in 2021.