International Breweries Plc, a beverage company has said it recorded to N43.7bn gross profit in 2022 financial period.A statement said it disclosed
Achebe, who is the HRH, Obi of Onitsha, said “The company continues to sustain its production volumes despite inflation. 2022 was a year that tested the global economy with multiple challenges. 2022 was a year of transformation for us, and we want to commend the board of directors for their courageous decision to embark on multiple initiatives to position our company for better returns.”
While noting the company’s challenges occasioned by the government’s increase of excise duty from N40 per litre of excise, to N75 per litre, he said there would be a further increase to N100 in 2024.
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