International Breweries Plc has reported a pre-tax profit of N88.9 billion in its 2025 audited financial statements, a strong turnaround from a loss of N111.8 billion in the prior year. This recovery was driven by robust revenue performance and reduced foreign exchange losses.

For the full year, revenue surged to N619.04 billion from N488.9 billion in the previous year. The company noted that 100% of its sales were driven by its brewed products in the Nigerian market.

Profitability flowed through to the bottom line, with earnings per share at N0.30 compared to a loss of N1.16 in the prior year. Retained losses on the balance sheet narrowed to N191.03 billion from N241.9 billion. Consequently, no dividend was declared.

Key financial metrics for 2025 compared to 2024 include:

• Revenue: N619.04 billion, up 26.60% year-on-year
• Cost of sales: N409.40 billion, up 14.48% year-on-year
• Gross profit: N209.64 billion, up 59.60% year-on-year
• Operating profit: N82.88 billion, a significant improvement from a loss of N91.07 billion
• Net finance income: N6.06 billion, compared to a loss of N20.74 billion
• Profit before tax: N88.95 billion, a substantial recovery from a loss of N111.82 billion
• Earnings per share: N0.30, compared to a loss of N1.16

The company's revenue of N619 billion was primarily driven by contracts with distributors of its brewed products, contributing N615.2 billion, or approximately 99% of sales. Key accounts made up the remainder.

Cost of sales rose to N409.4 billion from N357.6 billion, largely due to increased costs of materials consumed and production overheads. This led to a gross profit of N209.6 billion, representing a 59.60% year-on-year increase from N131.3 billion.

However, operating expenses saw an increase, with administrative expenses rising to N44.02 billion from N31.7 billion. Marketing and distribution costs also climbed to N80.7 billion from N76.7 billion.

The company reported other income of N973.4 million, mainly from sundry income. Other losses dropped sharply to N2.8 billion from N136.1 billion, attributed to reduced foreign exchange pressures.

These factors supported a rebound in operating profit to N82.8 billion from a loss of N91.07 billion. After accounting for net finance income of N6.06 billion, the pre-tax profit stood at N88.9 billion. After income tax of N38.04 billion, the post-tax profit for the year was N50.9 billion.

On the balance sheet, total assets increased slightly to N739.7 billion from N727.8 billion, while total liabilities declined to N239.9 billion from N278.9 billion.

In related market news, the Nigerian All-Share Index closed positively on April 10, 2026, rising 0.30% to 203,770.4, with total market capitalization reaching N131.1 trillion. International Breweries was among the advancers, gaining 9.88%.