International Breweries Plc Swings to N61.5 Billion Profit in H1 2025: Finance Costs Drop Over 90%, Revenue Soars

International Breweries Plc has staged a turnaround, posting a profit before tax of N61.5 billion for the first half of 2025, a sharp reversal from its N150.2 billion loss in H1 2024, driven by steep reductions in finance costs and impressive revenue growth.

In Q2 2025 alone, the company reported a pretax profit of N26.4 billion, compared to a staggering N61.8 billion loss in the same period last year.

The rebound reflects robust topline expansion, with quarterly revenue rising 39.5% year-on-year to N167.3 billion, and H1 sales reaching N341 billion, up from N223.2 billion in H1 2024.

A key driver of profitability was a 91.8% year-on-year plunge in finance costs, down to N1.94 billion in Q2 2025 from N23.7 billion in Q2 2024. The drop is tied to the absence of foreign exchange hedging losses and a significant decline in interest expenses on borrowings and leases.

Despite a 22.3% rise in cost of sales to N105.4 billion, gross profit surged 83.5% to N61.9 billion. Operating expenses, including marketing and administrative costs, climbed 16.7% to N31.7 billion, but were well absorbed by the revenue gains.

Total assets dipped slightly to N706.6 billion from N727.9 billion in December 2024. Retained losses improved to N200.7 billion, narrowing from N241.9 billion a year earlier. Earnings per share rose to N0.25 in H1 2025, from a loss of N3.98 in H1 2024.