NGX urges International Breweries to sustain good corporate governance, shareholder value

Nigerian Exchange Limited (NGX) has urged International Breweries Plc to sustain its commitment to high standards of corporate governance, social impact and shareholder value creation.

Jude Chiemeka, Divisional Head, Capital Markets, NGX, noted this while commending the management of International Breweries Plc for leveraging the Facts Behind the Figures platform of the Exchange to increase its engagement with the market and its long-term contributions to socio-economic development in the country since its establishment in 1971 and listing in 1995.

Chiemeka further said, “One of such contributions is the Responsible Beverage Service (RBS), a first of its kind intervention programme in Nigeria with the objective of contributing to the reduction of alcohol-related harms caused by drunk driving, underage drinking, binge drinking, gender-based violence and alcohol consumption by pregnant women. This programme reiterates the company’s mission of bringing people together for a better world.”

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While recalling the drink maker’s performance in the first half (H1) of 2022, he attributed it to the hard-work and resilience of Int Brew’s management. “We would like to recognise these efforts being made by the Board and Management of International Breweries Plc towards achieving continuity by improving business operations and restoring investor confidence in the company.

“With the fast-changing macroeconomic environment in Nigeria and globally, we encourage International Breweries Plc to continue to strive for sustainability by adhering to higher standards of corporate governance, deeper social impact, higher regulatory compliance, and greater returns for shareholders,” Chiemeka added.

Hugo Dias Rocha, Managing Director/Chief Executive Officer, International Breweries Plc during his remarks noted that the company would continue to build brands and invest in a sustainable and profitable business for the long term. “Our team is engaged and living in the AB InBev culture of optimising the growth potential of the business and delivering shareholder value,” he added.