In order to maintain the good profitability it achieved in 2021 and increase its market position in the beer industry, International Breweries Plc (IBPlc) has stated that it is changing its tactics.
During the company’s 45th Annual General Meeting (AGM) in Lagos, HRH Nnaemeka Achebe, the chairman, hinted that IBPlc has maintained its production volume growth in spite of difficulties brought on by an unfavorable foreign exchange market throughout the year.
The company’s sales increased from N136.8 billion in 2020 to N182.3 billion, a 33.3% increase. Additionally, the company’s loss before taxes decreased by 30.6% from N28.6 billion in 2020 to N19.8 billion in 2021.
“Our production volumes continue to increase for the full year, despite the challenges we faced in 2021,” Achebe stated during his remarks at the meeting. With total revenue of N182.3 billion, which is 33.3% more than the previous year, we are extremely proud of our robust recovery and are achieving record overall volume growth ahead of the industry.
“Finance Magazine recently named AB InBev the World’s Most Admired Beer Company.” This honor and our 2021 results further solidify our domestic dedication to utilizing our top-notch procedures in order to provide steady growth and eventual profits for all shareholders.
“In the upcoming year, we will maintain our momentum to grow our top line through a combination of volume and revenue growth, which will be driven by superb innovations by management.”
Speaking, IBPlc’s managing director, Hugo Rocha, stated that the business is well-positioned to serve its hordes of customers nationwide and make a healthy profit for its investors.
