Sustain Commitment to Corporate Governance, Shareholders’ Value, NGX Urges Int. Brew

Kayode Tokede

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

Divisional Head, Capital Markets, NGX, Mr Jude Chiemeka commended the management of Int. Brew. 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.

According to him, “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.”

Recalling the drinkmaker’s performance in the first half of 2022, the DH, Capital Markets 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.

The Managing Director/Chief Executive Officer, International Breweries Plc, Mr Hugo Dias Rocha 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.