International Breweries’ Q1 loss narrows to N2.58bn

International Breweries Plc has reported a loss after tax of N2.58 billion for the quarter ended Mar. 31, 2021, compared to N5.65 billion in the same period of 2020.

The company’s loss before tax narrowed to N3.56 billion in the first quarter of 2021 from N7.69 billion in the same period a year earlier, according to its unaudited financial statements obtained by Markets Reporters.

Its revenue, however, increased to N38.96 billion in the period under review from N35.35 billion in Q1 2020.