Guinness Nigeria Announces 249% Increase in Profit

• Guinness Nigeria Announces 249% Increase in Profit

Guinness Nigeria Plc grew its profit after tax to N6.7 billion for the year ended 30, 2018.

The profit was 249 per cent higher than the N1.9 billion announced in 2017.

Also, the firm announced a 14 per cent increase in its revenue from N125.92 billion recorded in 2017 to N142.98 billion in 2018.

According to the company, the dividend announced translate to 180 kobo per share and an increase of 318 per cent, when compared to the same period of last year.

At the 68th Annual General Meeting held recently in Abuja, the company declared a dividend of N4.04 billion after the approval of its shareholders.

Speaking on the performance, Mr Babatunde Savage, the Chairman, Board of Directors, Guinness Nigeria, said “The company’s performance for the year ended 30 June, 2018 shows impressive growth and resilience. Although the challenges in the operating environment are yet to ease, the execution of our strategy is working well as we delivered both top line growth and margin expansion while also increasing investment behind our brands.”