Truth234:
Guinness Nigeria Plc on Tuesday reported a loss for the year ended June 30, 2016.

The document filed with the Nigerian Stock Exchange (NSE) revealed that turnover declined by 14 percent from N118.49 billion recorded in 2015 to N101.973 billion in 2016. While operating profit dropped by 72 percent from N15.667 billion to N4.415 billion.

The company ended the year with a pretax loss of N2.347 billion and loss after tax of N2 billion, making it its first full-year loss in 30 years, compared with pretax profit of N10.795 billion and profit after tax of N7.79 billion recorded in 2015.

Speaking to reporters, the Managing Director/Chief Executive Officer, Guinness Nigeria Plc, Mr. Peter Ndegwa, said that the challenging economic environment coupled with Naira devaluation had a profound impact on Guinness Nigeria’s overall performance.

“Our performance this year was impacted by two major factors, one being the very tough economic challenges around consumer spending, driving consumer preferences towards value brands across the sector, the other, and more significant factor being the effect of foreign exchange policy and the devaluation of the Naira. When you take out the impact of the latter, our underlying performance for the year was broadly in line with the prior year in spite of the pressure on the top line.”

Speaking in the same vein, Chairman, Guinness Nigeria Plc, Mr Babatunde Savage, said: “Despite the continuing deterioration in the operating environment, the Board is pleased to note that our core brands of Guinness FES and Malta Guinness are in growth and we now have a strong participation in the growing value segment of the market through Satzenbrau and Dubic. We have also started to see early signs that our decisions to acquire the distribution rights in Nigeria to the International Premium Spirits brands of Diageo and to invest in local capacity for spirits manufacturing are the right ones for the business.”

http://investorsking.com/guinness-reports-first-annual-loss-in-30-years/

rozayx5:


lol .
keep running from pillar to post

AntiWailer:


Odeee then stop mentioning me and referring me to any post.

My post is for intelligent minds and the message is clear.

I dnt engage riff raffs who can not reason, that is why i stay away from your thrashes.

Stop calling me out, i have no business with You or your pay masters.

I can actually pay some of your pay masters if you know what that means.

amuokuko:
If nah me be Guiness MD, i will sack all Afonjas in my employ...
Not only that they dont drink beer, they also brought this to the company by voting that Fulani Octopus..


Just Pity the 10% of other tribes that re likely to loose their job with these zombies.....

anonimi:
30 years ago the military dictator led us into recession and depression before he was kicked out.
Yet some Buharideens were too deaf to all the warnings last year.



www.nairaland.com/attachments/2095210_worst_jpeg588f192a23aa02a7b350a8bbe5d18306

rozayx5:


intelligence is far from you
your money is thrash to me
keep it and feed your fellow zombies. who will defend your dullard at all costs

AntiWailer:


Oh ok you trade forex.

Go and develop another skill that will not be affected by economic decision. A skill that will stand test of time.

You can carry your frustration into Agriculture too.

I am not responsible for what you are going through so stop stalking me.

Tolexander:
When the part of the South voted for the same man in 2011, it was also out of hatred for the SS?

rozayx5:


another afonja

rozayx5:


the afonjas are already at the receiving end in the banking sector

as for us that live in naija but dont depend on naija we dey laugh the dullard and his crew

AntiWailer:


Drop that nonsense you called FOREX. There is economic problem in Uk, Canada, Russia, China, IRAN etc So what rubbish are you trading ?

I can teach you a better skill.

A skill that is balling during this recession. Companies, fall back to us for softwares they can no longer afford to import.

It is called SOFTWARE DEVELOPMENT.

Don't scream, you might be using my app as you rant.

May be that is one of the reasons I can calm down and reason to see the root of the problem instead of assuming BUHARI is responsible for my MISFORTUNE.

rozayx5:


lol dont discuss fields you know nothing about other than the thrash they sold to u

face buhari. or go to the next thread about obama

AntiWailer:


What nonsense field don't we know about. I traded forex 10 years ago and saw the bleak future and embraced a better skill and reason you CRY now and I laugh.

I would have been blaming Buhari too for the useless decision made 10 years ago.

In humble and pained voice.

He submitted.

idupaul:
Same thing with 1984 ...Nigerians should look at the common denominator between 1984 and 2016 and therein lies our problem..
That denominator is not low oil prices ,it's not corruption ,it's not war. The negative denominator in both eras is just the personality Buhari .

EternalTruths:
All thanks to a particular part of the South who voted in an incompetent President to out of hatred for the SE/SS people.

I hope when Guinness starts sacking them to remain profitable, they won't wail.

billyG:

How many dollars has Guiness add to nigeria economy 4 d last 30yrs?

rozayx5:


loool i wonder how many software you have to sell
buhari useless policy favors us loool

kill the naira more we r waiting for him

i guess you traded that roadside forex with a couple of change
all the hedgefunds in Nigeria. Banks are using your savings to hammer. guess who trades them?

if you ever exposed to the real world of trading and not laptop and modem roadside trading you wont be chasing softwares now

let me advice u . go learn coding from mark
who knows you might build facebook

billyG:

How many dollars has Guiness add to nigeria economy 4 d last 30yrs?

AntiWailer:


lol.

Typical of a flat head chest beater.

So you trade for banks when the bank has a whole department with GMs and big boys in their Treasury Department

You are not talking to a novice.

Keep your advice, I check people's clothes before accepting offer of used clothes from them.

We have sized you and you are EMPTY

Kiakia:
Recession! Nigerians are guzzling less beer these days. Times are hard. No money in circulation. Welcome to a distressed country, Guiness!

helovesme:


Absolutely nothing !

The annoying thing is that they import most of the material used in brewing and the brew only for the Nigerian market.

You cannot find a bottle of Guiness brewed in nigeria in any major supermarket abroad except African stores/shops were ethnic foods are sold

Truth234:


Nothing you say? Well, from the article they paid over N347 million in taxes in one financial year. Also, they have been creating jobs and pay better than most companies, which translate to increase consumer spending. Please the economy is struggling because of our leaders failure to devise succinct growth model.

AntiWailer:


Blame game will be over once the past Government keep quiet and allow the new one fix the mess.

You can't cause something and throw it at my face and still scream BLAME game.

helovesme:


How does paying taxes which they are legally obliged to relates with contributing to nigeria's forex earnings

They can only pay that much tax because they are trading very profitably even though they "claim" nigeria is a "challenging" country to trade in. Have you checked their annual accounts to see how much of their earnings was remitted to their parent company?

How many permanent jobs do they create Go and look at the copy of their annual accounts and see their staff strength in nigeria. The bulk of their workforce is contract/temporary staff.

Paying a select few mouth watering salary does not translate to increased consumer spending and there's no correlation whatsoever.