International Breweries Plc has published its unaudited first quarter result for the period ended March 31, 2025, showcasing a remarkable turnaround with earnings per share of N0.30, compared to a loss per share of N0.62 in first quarter  2024.

This marks the brewer’s first positive quarterly EPS since first quarter of 2022. Key highlights shows that revenue surged by 68.2% year on year, driven by improved cost-reflective pricing and effective revenue management initiatives, including promotional activities to drive sales volume and improve customer retention.

Market watchers noted that the results reflect a strong recovery, underpinned by solid revenue growth, margin expansion, and improved profitability.

They are of the view that maintaining profitability will depend on the brewer’s ability to navigate persistent cost pressures amid a challenging macroeconomic environment.

Gross margin recovered strongly, expanding by 639 basis points year on year to 34.3%, as robust revenue growth outpaced the rise in cost of sales.

The brewer recorded an operating profit of N31.53 billion, compared to an operating loss of N80.58 billion in first quarter of 2024, driven by stronger topline growth and significantly lower foreign exchange losses.

Profit before tax stood at N35.07 billion, compared to a pre-tax loss of N89.35 billion in first quarter of 2024, while profit after tax stood at N29.38 billion, up from a loss after tax of N60.39 billion in first quarter of 2024.