In compliance with the post listing requirements of the Nigerian Stock Exchange (NSE), International Breweries Plc has projected a net profit of N1.93billion for the financial period ending March 30, 2013. The projection is N645 million or 33.37 per cent higher than what the company generated in the third quarters of 2012 which ended September 30, 2012.
The forecast made public by the NSE early in the week further reveal that turnover during the first quarter of 2013 will hit N17.666 billion. The target indicates that the company will increase its revenue generation by N8.602 billion or 48.69 per cent when compared with N9.064 billion achieved in the third quarter of 2012.
The projection put cost of sales during the period at N8.434 billion as against N4.759 billion used for similar purpose in the third quarters of 2012. In the same vein, administrative cost or otherwise termed fixed cost is expected to increase to N3.738 billion from N2.392 billion recorded in the comparing period of the third quarter of 2012.
Some market observers are of the view that the forecast will further boost the equities performance in the market. Some are however skeptical stressing that investors are likely going to be motivated by the presentation of the 2012 audited account especially if some form of rewards are offered the shareholders who have waited for over a decade to be compensated in terms of dividend by the company.
The equity has enjoyed investor’s patronage in recent time posting a 52 weeks high of N16.69 and low of N5.34 implying that smart investors made gains through price appreciation. The company currently has an outstanding shares of 2,112,914,681.00 while the price earnings ratio (P/E) is 27,23 and earning per share (EPS) is 0.61kobo.