International Breweries Reports N54.51bn Profit Drop in 2026

International Breweries Plc announced its unaudited financial results for the nine months ending September 30, 2026, revealing a profit after tax of N54.51 billion, a decrease of 5.74% from N57.83 billion in the same period in 2025. This decline was largely attributed to a 119.25% increase in income tax expense, which rose to N35.93 billion from N16.39 billion.

Despite this, the company's profit before tax increased by 21.86% to N90.44 billion compared to N74.22 billion in 2025. Revenue for the period was N482.61 billion, up 2.12% from N472.6 billion in 2025.

The cost of sales decreased by 8.02% to N286.7 billion, leading to a gross profit of N195.94 billion, a 21.76% increase from N160.93 billion. However, administrative, marketing, and distribution expenses surged by 26.1% to N116.16 billion.

As of September 30, 2026, total assets were N692.03 billion, down 6.45% from N739.74 billion in 2025, while total liabilities decreased to N221.70 billion from N239.92 billion. The earnings per share fell to N0.32 from N0.34 in the previous year.