Guinness Nigeria plc has posted N125 billion revenue for the full year ended June 30, 2017, indicating an increase of 23 per cent year-on-year. According to a statement made available by the management to the newsmen, the results, which were released to the Nigerian Stock Exchange (NSE), also showed gross profit of N48.3 billion, which is 16 per cent higher versus the previous year and an operating profit of N10.2 billion, representing an increase of 131 per cent year on year.


Commenting on the results, Peter Ndegwa, Managing Director/CEO, Guinness Nigeria, said that the company’s results were driven by a relentless focus on executing our strategy and keeping costs down.

He noted :”Despite the challenging economic conditions, we have remained focused on executing our company’s total beverage strategy, which gained further traction with strong growth in our international premium spirits portfolio following our first full year of distribution.”

He noted that in December 2015, Guinness Nigeria became the first total beverage alcohol company in Nigeria when it acquired the rights to distribute International Premium Spirits (IPS) including Johnnie Walker Scotch whisky and Bailey’s liqueur in Nigeria.

This was quickly followed in January 2016 by the acquisition of the rights to distribute McDowell’s, a United Spirits Limited (USL) whisky brand. Ndegwa also stated: “Our gross profit of N48.3 billion is as a result of volume growth, pricing benefit and a favourable sales mix as we continued to invest in our expanded brand portfolio during the year. Part of that investment includes the N4.7 billion spirits line for locally manufactured spirits, which we commissioned in Benin.

These strategic acquisitions and expansions have filled the gaps in the spirits brand base allowing us to compete across all categories of the alcoholic beverage market in Nigeria. We remain committed to executing our productivity agenda with a strong focus on cost reduction, distribution and operational efficiencies.” Also speaking to the results, Mr. Babatunde Savage, Chairman, Guinness Nigeria, said that the company remains committed to the Nigerian market.

“It is pleasing to see that the decisions we have taken in recent years have helped to position the company for sustained business growth. We are grateful for the strong support that our shareholders have afforded us over the years. With our continuing focus on driving performance and our determination to positively impact the lives of Nigerians.

SOURCE: https://brandspurng.com/guinness-records-n125bn-fy-revenue-23-year-on-year-increase/

Why won't they record such increase in revenue when Nigerians drink out of recession/economy frustration.

agbo dudu

True

If some major companies and banks are posting huge profits this quarter, then recession is good as gone. Medium and lower/small scale companies, entrepreneurs and market/traders must do a lot and be sincere with their profit margin and shun greed in other to help the economy from there own side.
Nigeria traders will not/never want to reduce prices even if there are needs to do so even if it entails their goods spoiling because of greed.
Pepsi reduced their prices and still making profits

It could only mean one thing, we keep drinking irrespective of the recession.

Why wouldn't we drink away our sorrows so that we can think less of this Shitty politicians we have here

and the wailers say we are not out of recession.

Not surprised Jare, with the numbers of people loosing Jobs up and down, next is to shayo and forget their problems.

Guinness recruit me into your company I'll be a great addition.

Udeme Everyones Favorite. I'm Sure Nigerians Bought 75% Of The Said Revenue Cos Alcohol Is Actually One Of The Things That Unites And Makes Us Happy In This Country.

Banks are expected to give loans to the real sector like Guinness.

Zenith Bank profit : Close to N100b (Half year)

Guinness : N48.3b (Full year)

And someone thinks something is not wrong with our financial services industry

I suspect they even reduced the amount!







Nigerians wey dey drink with the aim of drinking away their senses together with their self inflicted sorrows!

awon weyrey

To all the shayo candidates, Una weldone ooooooooooooooooooooooooo...

Check my signature for ongoing promo of our full capacity powerbank

Drunkards everywher!!

Gradually but surely, we are finding our way outta the woods.

Thank goodness.

smartty68:
Why won't they record such increase in revenue when Nigerians drink out of recession/economy frustration.

Poverty in Nigeria but Nigerians will still drink

smartty68:
Why won't they record such increase in revenue when Nigerians drink out of recession/economy frustration.

APC boys are coming for you

Guiness brand is not exclusively alcoholic.
Guiness has a wide range of beverages, most of which are consumed on a very large scale...
This was expected.

That's my 1751

bolubillionaire:
Guiness brand is not exclusively alcoholic.
Guiness has a wide range of beverages, most of which are consumed on a very large scale...
This was expected.

The gidigan is the black bottle

Bitter in nature

lafuria1:
and the wailers say we are not out of recession.

If that is how you judge recession exit then I am so sorry for you.

Nigerians consumed that liquor. It was not exported. As long as we continue to "consume" we will never move forward.

NothingDoMe:
APC boys are coming for you

Is the plain truth

sunshineV:




Poverty in Nigeria but Nigerians will still drink

In recession

Alcohol and cigarette sells

Beer parlours and bars are d best places to think about how frustrating dis country is without being suicidal

sarrki:


In recession

Alcohol and cigarette sells

Archived!

Revenue- N125b
Gross profit- N48.3b
Operating profit- N10.2b

Oya