International Breweries Plc Reports Q4 2017 Results – Operating Expenses Grew by 115% YoY

Late last week, the NSE published International Breweries’ Q4 2017 (end-Mar) results which surprised positively. While sales of N10.0bn grew by 47% y/y, PBT and PAT advanced by 89% y/y and 56% y/y to N2.4bn and N1.5bn respectively. Although operating expenses more than doubled to N1.7bn from N769m in Q4 2016, this negative was more…

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