International Breweries PLC has launched its 2021 FY Audited Financial Statement, revealing a loss after tax of N17.66 billion from a loss of N16.06 billion in 2020. Meanwhile, Revenue for the duration raked in N182.30 billion, representing an increase of 33.27%. The company's loss before tax increased to N8 billion in 2018 from the N3.23 billion That was recorded in 2017. This represents 148.9%, which stood at N3.86 billion, indicating 177.1% higher than the profit after tax the company realized in the same period in 2017. This indicates that the brewery has declared a bottom-line loss for three consecutive years since 2018, posting a loss of N3.93 billion. In 2019, the loss was declared spiraled by an overwhelming 607% to N27.79 billion and declined in 2020 to N16.08 billion. Within the three years, the business enterprise grew its revenue by over 51% on the basis of inflationary pressures driven by rises in prices of goods and services over the years. In the FY 2021...
Thanks for reading. To read the rest of the article please log in or join now!
Be the first to comment!
You must login to comment