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International Breweries Plc releases 2020 Q2 results

International Breweries Plc releases 2020 Q2 results

Business
International Breweries Plc (IB Plc), a proud part of the AB InBev family, the world’s largest brewer, has announced its unaudited results for its half-year period ended June 30th 2020. The result, which was just released to the Nigerian Stock Exchange (NSE), reflected the impact of the ongoing Covid-19 pandemic on Nigeria. As part of the company’s proactive measures, the cost of sales maintained a downward trend within the quarter. This was coupled with the stringent cost controls implemented at the beginning of the year and strengthening its credit modalities to better position the company for a return to competitive growth. While the quarter may not have ended robust enough, the results show that the Company made significant progress in some other critical areas as enumerated a...