Guinness Nigeria Plc has reported a growth of 249 per cent in profit after tax (PAT) for the year ended June 30, 2018. The audited results showed revenue of N125.9 billion, up by 14 per cent from N125.92 billion in 2017. Net financing expenses fell 54 per cent to N3.443 billion, from N7.527 billion following a rights issue of last year.

Profit before tax stood at N9.943 billion, up from N2.662 billion, while PAT soared by 249 per cent from N1.923 billion to N6.718 billion in 2018. Based on the improved performance, the board has recommended a dividend of 184 kobo per share, compared with 64 kobo paid the previous year.



Commenting on the results, Managing Director/CEO, Guinness Nigeria Plc, Baker Magunda, said: “Over the year ending 30 June 2018, despite continued challenges in the operating environment, Guinness Nigeria delivered a strong performance. Revenue increased by 14 per cent as both beer and mainstream spirits’ net sales grew double-digit. In beer, Guinness, our largest brand, saw strong growth as it benefitted from increased marketing activations around football. Mainstream spirits also delivered double-digit growth driven by innovation launches and new formats.”

“During the year, gross margin was down four per cent to 34 per cent largely driven by inflationary pressure on our raw material costs. However, this was more than offset by reduced distribution and administration costs and resulted in operating margin improving 130bps. Marketing spend increased 18 per cent, ahead of revenue growth, as we continue to invest behind our brands.”

“Improved operating performance combined with lower finance charges have helped us deliver an overall PAT increase of 249 per cent during year. The execution of our strategy is working as we delivered both top line growth and margin expansion while also increasing investment behind our brands. Looking forward, we will continue to focus on the three strategic pillars of productivity, expansion of our portfolio, as well as the execution of the commercial footprint initiatives to drive the business forward. Whilst we remain optimistic about the execution of our strategy, we note that the operating and competitive environment is likely to continue to be challenging in the 2019 financial year.”

Also speaking, Chairman of the Board of Guinness Nigeria Plc, Mr. Babatunde Savage said: “Guinness Nigeria has confidence in the Nigerian economy and will remain a major player in the country by continually investing, developing capacity and growing a portfolio that most suit the consumers’ needs for celebration and relaxation. Our aim is to continue to add value to Nigeria not only through continued investments in local manufacturing and backward integration, but also through various Sustainable Development projects, enabling job opportunities and economic inclusion.”

http://www.akelicious.net/2018/08/guinness-nigeria-grows-profit-by-249-to.html

wait I no understand, meaning say na only 184kobo dem go pay on top how many billions?

Hi

To all you SHAYO masters..una well done.

Why not? 90% of Nigerians drink away their sorrow in this lifeless country called Naijiriya

Correct!

My Moslem brothers will happily collect majority of the huge tax from this business but will hamper the growth.

Una see una life?

Seems beer business is really doing well in Nigeria.

CheapDataGuy:
wait I no understand, meaning say na only 184kobo dem go pay on top how many billions?

What it means is that if you have let's say 50,000 share units in the business or company, they will pay you 184-kobo per share out of the declared profit.

sweetkev:
Why not? 90% of Nigerians drink away their sorrow in this lifeless country called Naijiriya

Lol wdym

G

twilliamx:
To all you SHAYO masters..una well done.

Haha

Stingy folks everywhere. Mere formality. The directors will chop a bulk f the profit. If you know, you know

Meanwhile.... 99% of Nigerians are Christians or Muslims, who preach against the drinking of alcohol, so the question is;
who is drinking all these alcohol?
Spirits?

afroniger:


What it means is that if you have let's say 50,000 share units in the business or company, they will pay you 184-kobo per share out of the declared profit.

Ohh wow. Thanks Sir. I now get it!!

The people who declared alcohol as Haram, and destroy beer bars and beer drinks, are rushing to collect tax from beer companies.

If you know you know.

CheapDataGuy:
wait I no understand, meaning say na only 184kobo dem go pay on top how many billions?

184 kobo per share.

mehn how i wish say na me get this kind money na

Shareholders good luck.

Shareholders will be like "ope ooo"

Money no dey money no dey but money for booze dey

As religious as this country is,...Who dey drink these beers

Dacronym:
Lol wdym

U Bet Ur Azz Bro.Lifeless President Begets Lifeless Country

CheapDataGuy:
wait I no understand, meaning say na only 184kobo dem go pay on top how many billions?

Depends on the amount of shares bought.

sweetkev:
Why not? 90% of Nigerians drink away their sorrow in this lifeless country called Naijiriya

Stfu! We don't!

afroniger:


What it means is that if you have let's say 50,000 share units in the business or company, they will pay you 184-kobo per share out of the declared profit.

Just learning please, will that now be your profit for the year or is it monthly?

REELnewz:
U Bet Ur Azz Bro.Lifeless President Begets Lifeless Country

Haha lol

Passovile:

Just learning please, will that now be your profit for the year or is it monthly?

It's usually periodic, e.g quarterly. Anytime the company declares/makes a profit, you (as a shareholder) will get your share in the form of the dividend payouts.

CheapDataGuy:
wait I no understand, meaning say na only 184kobo dem go pay on top how many billions?

No sir.
It means for every single unit of share, you get 184 kobo as dividend. If for instance you have 100,000 shares, multiply that by 184kobo, which gives you 18,400,000 kobo or 184,000 naira.

Quite encouraging I guess.
I have to check the value of the share though.

Teacher1776:

No sir.
It means for every single unit of share, you get 184 kobo as dividend. If for instance you have 100,000 shares, multiply that by 184kobo, which gives you 18,400,000 kobo or 184,000 naira.

Quite encouraging I guess.
I have to check the value of the share though.

The value of the shares would most likely have increased. So investors may also sell shares to make a profit from the spread ( increase in the amount they sold it, against the amount they bought it)

And that's one benefit of shares. You profit when the company pays out dividends, and you also profit from selling your shares if the price increases

ikennaf1:
The people who declared alcohol as Haram, and destroy beer bars and beer drinks, are rushing to collect tax from beer companies.

If you know you know.

Forget the open destruction of bars and beer bottles, it's part of the political sharia Obasanjo talked about, the highest consumers of alcohol are the alhajis and Muslim elites. Ask beer parlour operators of the lull in business during Ramadan.