International Breweries Plc reported a pre-tax profit of N35.06 billion for the first quarter ended March 31, 2025, a significant improvement from a loss of N89.3 billion in the same period last year.

The excellent recovery is primarily driven by an increase in income and a significant decrease in foreign exchange-related expenses.

Revenue from the company’s core businesses, which include the sale of beer and non-alcoholic malt drinks, increased by 68.2%, from N103.2 billion in Q1 2024 to N173.6 billion in the current quarter. While sales costs rose 53.3% to N113.9 billion, gross profit surged 106.7% to N59.6 billion year on year.

Administrative, marketing, and distribution expenses also increased by 25.7%, from N21.8 billion to N27.4 billion. Despite this, International Breweries earned a significant financial boost by reducing its other expenses, principally net foreign currency losses, to N581.4 million, a substantial decrease from N80.5 billion the previous year.

Read also: 75 Years of Guinness Nigeria, brewing legacy, lifting lives

This reduction in FX-related losses significantly boosted the company’s operating profit to N31.5 billion, up from a loss of the same amount the previous year. Total assets increased somewhat, by 2.07% to N742.9 billion.

As of the close of business on April 28, 2025, shares of International Breweries were priced at N8.47, representing a 152.6% year-to-date increase, signaling improved investor confidence in the company’s financial health.