International Breweries Plc (INTBREW) has released its Q3 2024 unaudited results, showing a significant 80.5% year-on-year decline in standalone loss per share to NGN0.04.

The company’s revenue grew strongly by 77.8% year-on-year, driven by pricing, improved volume performance, positive brand mix, and innovation.

However, gross margin contracted to 26.8% due to elevated input and overhead costs, reflecting the impact of high inflation and currency depreciation.

INTBREW recorded a net finance income of NGN1.53 billion, its first since Q1 2020, following successful debt repayment.

Despite cost pressures, analysts expect increased pricing and improved demand during the festive season to support Q4 revenue growth.