WorldStage Newsonline– International Breweries has released its first quarter (Q1) 2018 results with sales put at N30.0 billion and a pre-tax loss of N2.6 billion.
The loss was driven by a relatively low gross margin of 35%, a high opex-to-sales ratio of 30% and a high net finance charge.
The loss after tax narrowed to N2.2 billion because of a tax credit of N317 million.
The gross margin and opex-to-sales reported compare with average figures of 45.6% and 22.4% respectively reported by International Breweries alone over the last five years.
The company officially merged with Pabod Breweries and Intafact Beverages on November 13, 2017 and changed its year end to December.
