Invest Data Consulting Ltd

The management of International Brewery Plc submitted its full year earnings report for the period ended March 31, 2017 to the investing community recently, in line with the post-listing requirement of the Nigerian Stock Exchange (NSE). The report, which came a month late, compared to the release date for the 2016 scorecard, among others, reflected the economic situation especially with manufacturers coming under more intense pressure from the operating environment that negatively impacted operating cost and purchasing power at a time Nigeria’s economy was deep in recession, especially for most part of the financial year. The poor performance, just like in the case of many of the companies that presented their score-cards before now, was attributed to the foreign exchange losses and supply hiccups. The company’s sales revenue, despite the challenging business environment, according to the result, recorded a growth, which did not however translate into a corresponding r...