International Breweries Plc has reported a strong turnaround for the nine months ended September 30, 2025, as profit after tax rose from ₦112.81 billion in the corresponding period of 2024 to ₦57.83 billion.
The unaudited financial statements released to the Nigerian Exchange Limited (NGX) showed that revenue rose by 37.6 percent to ₦472.57 billion, up from ₦343.45 billion in the same period of 2024.
For the third quarter alone (July to September 2025), revenue increased to ₦131.58 billion, representing a 9.4 percent growth compared to ₦120.25 billion posted in the corresponding quarter of 2024.
The company’s cost of sales rose by 25.3 percent to ₦311.64 billion, up from ₦248.58 billion in 2024, resulting in a gross profit of ₦160.92 billion, a sharp improvement from ₦94.87 billion recorded in the same period last year.
Administrative, marketing, and distribution expenses rose moderately by 26.7 percent to ₦92.09 billion, compared to ₦72.68 billion in 2024, driven by higher logistics and promotional costs.
One of the major improvements came from other expenses, which swung from a loss of ₦147.58 billion in 2024 to a smaller expense of ₦1.78 billion in 2025.
Finance income rose by 67.7 percent to ₦13.33 billion, while finance costs declined sharply by 83.5 percent to ₦6.13 billion, compared to ₦37.10 billion in the corresponding period of 2024.
Consequently, net finance income stood at ₦7.20 billion, against a loss of ₦29.15 billion last year.
The improved operational efficiency and reduced financial costs translated into a profit before tax (PBT) of ₦74.21 billion, a major recovery from the ₦154.55 billion loss reported in the same period of 2024.
After accounting for an income tax expense of ₦16.39 billion, International Breweries reported a profit after tax (PAT) of ₦57.83 billion for the nine months ended September 30, 2025.
The company also posted a basic and diluted earnings per share of ₦0.34, compared to a loss per share of ₦0.67 a year earlier.
Analysts note that the results signal a major rebound in the brewer’s financial health, supported by improved cost control, reduced finance charges, and the absence of heavy impairments that weighed down last year’s results.
International Breweries has continued to consolidate its market position in Nigeria’s competitive beverage sector under the Anheuser-Busch InBev Group, focusing on expanding its premium beer segment and driving efficiency across its operations.
With Nigeria’s beverage market gradually recovering from inflationary pressures and consumer spending constraints, the company’s stronger Q3 performance suggests renewed investor confidence ahead of its full-year earnings.