By Dipo Olowookere
The management of International Breweries Plc has announced the change of its financial year end/accounting reference period.
The brewery firm, in a statement signed by its Secretary/General Counsel, Mr Muyiwa Ayojimi, said its financial will now end on December 31 instead of the March 31 it used to in the past.
“This is to notify the Nigerian Stock Exchange (NSE) that International Breweries Plc has approved the change of the company’s financial year end from March 31 to December 31 of every year,” Mr Ayojimi said in the statement.
He added that, “The first application would be for a nine month period ending December 31, 2017,” pointing out that, “This notification is given in line with the prescribed rules of the Exchange and for statutory records.”
International Breweries was founded in 1971 by Dr Lawrence Omole and commenced production in December 1978 with the launch of Trophy lager.
From humble beginnings, its portfolio has grown and now includes Trophy Lager, Trophy Black, Castle Milk Stout, Castle Lager, Redds, Hero, Grand Malt, Betamalt malt drink and Voltic Water.
The firm was listed on the Nigerian Stock Exchange in 1995.
