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Tag: Guinness Nigeria Plc

  • Guinness posts N6.7b profit in Q3 FY25

    Guinness posts N6.7b profit in Q3 FY25

    Guinness Nigeria PLC has announced its unaudited financial results for the nine months ended 31 March 2025, delivering a strong performance that reflects the company’s strategic discipline, commercial agility and commitment to long-term value creation.

    The business recorded a profit after tax of N6.7 billion – marking a significant recovery from the N61.6 billion loss posted in the prior year.

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    Revenue for the period surged by 71.6 per cent, rising from N220.3 billion to N377.9 billion, driven by pricing actions, improved portfolio mix and strengthened consumer demand across key categories. Gross profit also grew by 53 per cent to N103.5 billion, supported by proactive supply chain management and continued premiumisation across key brands.

    Operating profit increased by 32 per cent, moving from N22.2 billion to N29.2 billion, as the company reaped the benefits of cost optimiSation, productivity enhancements and efficient marketing investments. Despite a high inflationary environment and FX-related pressures, net finance costs were managed effectively, contributing to a N6.7 billion net profit.

    Board Chair, Prof. Fabian Ajogwu, said: “This robust performance is a clear reflection of the strategic choices we have made to reposition Guinness Nigeria for long-term resilience and growth. It is a testament to strong leadership, unwavering execution, and the trust of our shareholders, customers and trade partners.”

  • Guinness reaffirms public listing status amid takeover

    Guinness reaffirms public listing status amid takeover

    Guinness Nigeria PLC has confirmed its continued status as a publicly listed entity on the Nigerian Exchange following the launch of a Mandatory Takeover Offer (MTO) by N Seven Nigeria Limited (a member of the Tolaram Group).

    The offer, which involves up to 481,362,887 ordinary shares at N81.60 per share, is a standard regulatory process in line with the Investment and Securities Act and Securities and Exchange Commission (SEC) regulations governing mergers, acquisitions, and takeovers.

    As part of the regulatory process, the acceptance period for the MTO will open on March 14, 2025, and close on April 4, 2025, giving qualifying shareholders the opportunity to consider and respond. Shareholders who have not received the Offer Document by March 7, 2025, can obtain a copy from Veritas Registrars Limited or access it via the Guinness Nigeria website.

    Despite this regulatory development, Guinness Nigeria maintains its strong market position, operational stability, and long-term growth strategy. The company has reaffirmed that the MTO will not result in a delisting from the Nigerian Exchange, as it is expected to continue meeting the free float requirements post-offer, allowing shareholders to freely trade their shares on the open market.

     Managing Director of Guinness Nigeria, Girish Sharma reaffirmed the company’s commitment to stability and transparency. He noted that its legacy of excellence and innovation remains at the heart of its operations.

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    “Guinness Nigeria has built a legacy of excellence spanning 75 years, and we remain focused on our commitment to delivering quality, innovation, and value to all our stakeholders. The launch of the MTO is in line with regulatory provisions and does not affect our ability to continue operating as a market leader. We remain a publicly listed entity on the Nigerian Exchange and will continue to uphold the highest standards of corporate governance, transparency, and value creation,” he said.

    The company has also addressed concerns around corporate governance, board composition, and management structure, confirming that there will be no immediate changes beyond those that arise through the normal course of governance.

    Guinness Nigeria has assured its employees that the MTO does not impact their roles, job security, or the company’s operational framework. The company remains focused on business expansion, talent development, and driving value for its teams.

  • Guinness Nigeria records 82.2% revenue growth in H1’25

    Guinness Nigeria records 82.2% revenue growth in H1’25

    Guinness Nigeria Plc has announced its unaudited financial results for the six months ended 31 December 2024, showcasing impressive resilience and strategic growth in a challenging macro-economic environment.

    The company reported an 82.2% revenue increase, growing from ₦142.60 billion in H1’24 to ₦259.60 billion in H1’25. 

    This performance underscores the effectiveness of its revenue generation strategies and geographic expansion.

    Despite inflationary pressures and rising costs, Guinness Nigeria demonstrated strong operational efficiency, recording a gross profit of ₦59.01 billion, a 28.4% increase compared to ₦45.94 billion in the prior period.

    However, operating profit declined to ₦11.26 billion from ₦16.40 billion in H1’24, reflecting the impact of higher cost of sales.

    Notably, the company narrowed its net loss significantly to ₦302.7 million in H1’25, a remarkable recovery from the ₦5.23 billion net loss recorded in H1’24.

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    Speaking on the results, the Board Chair, Dr. Omobola Johnson said: “These results highlight the strength of our strategy and our ability to adapt in an ever-evolving macroeconomic environment. 

    While we faced significant headwinds, our team’s commitment and strategic initiatives enabled us to deliver substantial growth in revenue and a significant reduction in losses. We remain confident in our long-term vision to create sustainable value for all stakeholders.”

    Echoing similar sentiments, the Managing Director, Girish Sharma said, “Our H1’25 performance is a testament to our agility and determination to navigate economic challenges while focusing on long-term growth. 

    The 82.2% revenue increase reflects the effectiveness of our portfolio and geographic expansion, and the effective execution of key strategic priorities. 

    As we continue to navigate a dynamic market landscape, we are committed to delivering value through operational excellence, innovation, and deepened stakeholder engagement.”

  • Guinness Nigeria records N125b revenue growth amidst economic headwinds

    Guinness Nigeria records N125b revenue growth amidst economic headwinds

    Despite economic headwinds, Guinness Nigeria Plc recorded an impressive growth in revenue according to its third quarter result ended September 30, 2024.

    The company delivered a remarkable 111% year-on-year revenue growth, driven by innovative product offerings, enhanced consumer engagement, and effective expansion of its retail footprint.

    Revenue increased from N59.5 billion in the same period last year to N125.9 billion, a testament to the strength of Guinness Nigeria’s diverse portfolio and its focus on building strong consumer connections. Despite this top-line growth, the company faced significant cost pressures, primarily due to inflation and the continued depreciation of the Naira, which increased the cost of raw materials, packaging, and utilities.

    Upbeat, Dr. Omobola Johnson, Chair of the Board of Directors, commented on the results, said “Our robust revenue performance reflects the resilience of our brands and the strength of our market presence. However, the difficult macroeconomic environment, characterized by rising costs and currency volatility, has impacted our profitability. As a Board, we are confident in management’s ability to execute the necessary strategic initiatives to strengthen our operations, enhance efficiency, and position the business for long-term growth. We remain focused on creating sustainable value for all our stakeholders.”

    Guinness Nigeria reported a 170% increase in cost of sales, driven by volume growth alongside rising input costs and exchange rate fluctuations. This led to a decline in operating profit, with the company posting a loss before tax of N16.0 billion. However, a favorable tax position, primarily due to deferred tax assets, reduced the overall loss to N12.1 billion.

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    Girish Sharma, Managing Director of Guinness Nigeria Plc, expressed optimism about the future stating that: “Our revenue growth demonstrates the strength of our brands and the effectiveness of our consumer engagement strategies.

     However, we are fully aware of the impact that inflation and currency depreciation have had on our cost structure. Our immediate focus is on improving operational efficiency, restoring profitability, and empowering our teams to deliver more value. We are confident that these actions will drive our financial recovery and position Guinness Nigeria for sustainable success.”

    Looking ahead, Guinness Nigeria remains committed to leveraging its strong brand portfolio, driving operational efficiencies, and exploring opportunities for innovation and further improvement in local sourcing. The leadership team is actively implementing strategies to mitigate the impact of the macroeconomic environment while maintaining a sharp focus on delivering value to shareholders.

    As the company navigates these challenging times, it remains optimistic about the future, supported by a clear strategy to enhance business resilience and capitalise on the opportunities in Nigeria’s dynamic beverage market.

  • Tolaram takes control of Guinness Nigeria Plc, picks new board

    Tolaram takes control of Guinness Nigeria Plc, picks new board

    Following the completion of the transaction for the acquisition of 58.02 percent controlling shares in Guinness Nigeria PLC, effective from Monday, 30th September 2024, Tolaram has announced a new management board for the company.

    In a corporate action announcement approved by the Nigeria Exchange Limited for publication on the NGX Issuers portal, Guinness Nigeria PLC announced the following resignations from its Board of Directors including Mr Adebayo Alli – Managing Director/CEO, Ms Joan Hodgins – Non-Executive Director, Mrs Grainne Wafer- Non-Executive Director, Mr Leo Breen, while confirming the appointment of a new board namely: while Mr Girish Sharma will step in as the new Managing Director/CEO, Mr Haresh Aswani – Vice Chair & Non-Executive Director, Mr Deepak Singhal – Non-Executive Director, and Mr John Musunga – Non-Executive Director.

    It may be recalled that in June 2024, Diageo and Tolaram announced a proposed transaction that would have Diageo transfer ownership of its 58.02% shareholding in Guinness Nigeria to Tolaram, making Tolaram the new majority shareholder, while establishing long-term license and royalty agreements for the company’s continued production, marketing and sale of the Guinness brand and all its locally manufactured Diageo ready-to-drink and mainstream spirits brands in Nigeria.

    Commenting on the completion of the share transfer transaction and the newly constituted Board, Board Chair, Dr. Omobola Johnson remarked that “The Board, Management and employees of Guinness Nigeria are excited about what the future holds in this new era as we embrace the tremendous opportunities presented by the vast experience and decades of remarkable presence of Tolaram in Nigeria building great brands. We thank all the directors that are exiting the Board for their contributions to the growth of Guinness Nigeria and their tireless efforts to ensure a smooth transition for the share transfer transaction. Especially we commend Mr. Adebayo Alli, the outgoing Managing Director who during his short but remarkable tenure delivered a solid platform for the future growth of Guinness Nigeria. We wish him well as he moves into his exciting new role within Diageo Africa.”

    Dr. Johnson also welcomed all the newly appointed Directors to the Board as the Board looks forward to their contributions in taking the business of the Company to new heights of growth, sustainability, and value creation for all stakeholders.

    In the new appointments announced, Mr. Girish Sharma, a seasoned business leader with a track record of transformative leadership will assume the role of Managing Director/CEO. Mr. Sharma holds an MBA in Marketing from the University of Kent and executive leadership qualifications from Harvard, Stanford and Cambridge Universities, focusing on leadership, sustainability, and business management.

    Until his appointment, Mr. Sharma was CEO of Tolaram’s joint venture with Colgate-Palmolive, delivering a remarkable 70 percent compound annual growth rate in top-line revenue year-on-year in the 5-year period since the inception of the Colgate-Palmolive Tolaram joint venture.

    Mr Sharma was also Chief Operating Officer of the Tolaram’s manufacturing company, Dufil, in which capacity he oversaw the growth of Tolaram’s flagship instant noodle brand, Indomie, to a household name and market leader in Nigeria and Ghana.

    Also commenting on the new changes in the business, Mr. Haresh Aswani, Managing Director, Tolaram Africa, and newly appointed Vice-Chair of the Board of Guinness Nigeria PLC, expressed his delight at the completion of the share transfer transaction and the optimism that Guinness Nigeria is poised for a new era of growth and expansion that offers stakeholders enhanced value.

    He stated “This is indeed a remarkable milestone in the history of two great businesses in Guinness and Tolaram. We are excited about the possibilities that this partnership will bring for everyone associated with Guinness Nigeria including its shareholders, employees, and trade partners. The experience of Tolaram across the African continent over the last 50 years will inevitably be a positive boost to Guinness Nigeria in the coming years.”

  • Guinness Nigeria Plc commissions Eye Centre

    Guinness Nigeria Plc commissions Eye Centre

    Guinness Nigeria Plc reaffirmed its unwavering dedication to Nigeria’s healthcare sector by renovating and re-equipping the Guinness Eye Centre at Lagos University Teaching Hospital (LUTH) in Idi Araba, Yaba, Lagos, recently.

    Speaking during the occasion, Dr. Omobola Johnson, Chairman of the Board at Guinness Nigeria Plc, expressed profound admiration for the clinic’s transformation, stating, “The Guinness Eye Centre transcends its role in healthcare; it emerges as a beacon of education, enriching the lives of patients and contributing significantly to the academic pursuits of medical professionals in Nigeria and neighboring countries.”

    Also speaking at the event, Mr. Adebayo Alli, Managing Director of Guinness Nigeria Plc, underlined the crucial significance of the day, emphasising, “Today stands as a pivotal milestone signifying our unyielding dedication to Environmental Social and Governance principles and the welfare of our local communities. The Guinness Eye Centre epitomises our staunch commitment to addressing needs, fostering the vision of a healthier society.”

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    Prof. Wasiu Lanre Adeyemo, FAS, Chief Medical Director of LUTH, commended Guinness Nigeria for its remarkable role in advancing healthcare.

    Going down memory lane, Adeyemo recalled that “In 1993, Guinness Nigeria Plc built and handed over the multi-million-naira Guinness Eye Centre (GEC) to the Lagos University Teaching Hospital.  Although no formal opening/commissioning was done, the Department of Ophthalmology of the Lagos University Teaching Hospital moved into the complex in December 1993.”

    An elated Adeyemo publicly appreciated the concerted efforts by Guinness Nigeria Plc to contribute their own quota as part of their corporate social responsibility to improve facilities in the hospital.

    The revitalised and upgraded Guinness Eye Centre serves as an emblem of Guinness Nigeria Plc’s commitment to prioritise healthcare, accentuating their unwavering dedication to uplifting the well-being of the communities and environments they diligently serve.

    For three decades, the Guinness Eye Clinic has been a bastion of exceptional and affordable eye care for Nigerians. Guinness Nigeria’s consistent commitment to donation of medical equipment worth over N5million annually stands as a testament to its enduring promise to uphold top-tier services for all patients and it is impressive that the company has continued to improve the quality of service delivered by the facility to its patients.

    The beneficiaries of this remarkable initiative extend beyond the patients. It’s crucial to note that the professionals striving to assist numerous patients in overcoming various eye issues have a conducive environment to work effectively. Guinness Nigeria acknowledged this need and renovated the offices and workstations of these professionals, providing them a comfortable environment as they positively impact lives.

  • Six-hour inferno consumes Aba Guinness Brewery

    A wild fire on Friday engulfed parts of the Guinness Nigeria Plc, Aba Brewery, Abia, razing bottles, chemicals, office structures and furniture to ashes.

    Fire fighters battled hard to contain the fire, which started at about 11 a.m. on Friday until about 6:46 pm when the News Agency of Nigeria (NAN) Correspondent left the scene.

    Okezie Uche, Aba Fire Service Commander, told NAN that his men reached the site at about 1 p.m. and fought hard to extinguish the fire with the help of other staff of near-by companies who volunteered.

    “We have water challenges but today, we refilled from the NNPC.

    When the fire seems to be out of control, I called the Controller of Abia Fire Service, Mr V.O Gbaruko in Umuahia office for backup and he sent men and more equipment.

    “We used techniques with the support of NNPC that gave us a foaming chemical which helped to extinguish the fire.

    “Without that chemical, we cannot do much because we are fighting a highly flammable material,” he said.

    Uche said the materials at the brewery included empty bottles, plastic crates and others.

    He said that “poor house-keeping” might have been responsible for the fire, stressing that when the staff could not contain the fire, they called the fire Service.

    A Police Officer, who preferred anonymity, told NAN the police got information on the fire at about 12 noon and called in the Fire servicemen in Aba.

    “They came, the Commander of MOPOL 55 also sent his men; the villagers also assisted in fighting the fire but it has not been easy as efforts were slowed because there was no power from EEDC to pump water.

    “And the water the Fire Service brought finished but the efforts continued with the help of Glover Paints that mobilized their men to bring water to help.

    “When the Umuahia Fire Service Commander sent his men, they joined with the help of staff of Geometric, to contain the fire to this level,” he said.

    He assured that the fire would be over before 6 p.m. following combined efforts, addig that fire reached nearby NNPC Gas Pipeline but was put out at that end.

    He said the fire reached the NNPC Gas Pipeline area near the depot but when the Fire Service came, they first tackled the area which was why the pipeline did not explode.

    Eric Otuonye, the Station Officer in charge of Security of the Brewery, said workers noticed the fire and smoke in the compound at about 11:30 a.m. from a nearby bush hence they mobilized to fight it.

    He said that the fight had been tough as firemen from Fire Service office in Aba and Umuahia, the Staff  of Clover Paints and Guinness Nig. Plc fought the fire from 12 p.m.

    “I think the fire got to a chemical that has escalated it, this is after 6 p.m. and if it is not put out, I do not know what will happen at night.

    “I believe the fire must have started from our compound. But there is a bush close to our fence on that side where it started, that is what we are suspecting.

    “But now what is important is fighting the fire, when it is over we can now trace where it started,” he said.

    Otuonye said that the damage was to be estimated in billions of Naira.

    Otuonye said the brewery had been shut down already since July 2018, adding that only a few police personnel and company security guards were around.

     

    NAN

  • Guinness donates breathalyser kits to FRSC

    Guinness Nigeria Plc has donated breathalyser kits to the Zone 5 Command of the Federal Road Safety Corps to promote safe driving during the Yuletide season.

    It said the kits are to assist the FRSC test drivers’ level of drunkenness on the highway.

    Manager, Guinness Nigeria, Benin Plant, Mr. Alli Bayo, said in the last 14 years the company has been partnering with the FRSC to create awareness on the need for drivers to avoid drinking while driving.

    Bayo, who was represented by Mr. Everest Ogohnim, Packaging Manager, Guinness Nigeria Plc, urged stakeholders in the transportation sector to make firm commitment to never drink and drive by signing the #JoinThePact wall.

    He said the pact was a global initiative by Diabeo and is expected to collect 150 million signatures by 2015.

    Manager, Sustainable Development and Alcohol in Society, Ms. Titilola Alabi said the breathalyser kits were to test the level of alcohol taken by drivers while on the highways.

    Zone 5 Commander of the FRSC, Kehinde Adeleye, warned that any driver found culpable of involvement in road crashes would spend the next Yuletide and New Year in prison till January 15, 2019.

    His words: “We had instructions from our national headquarters in Abuja that any driver we arrested in this ember months period will not be released until after January 15, 2019.

    “In addition, we will have mobile courts virtually in all routes. If mobile courts are in session and any driver was found culpable of causing road crashes, and he or she was arrested will remain in prison custody till January next year.

    “The idea is that we have been struggling from January to December to make our daily living. It is our responsibility to make our families not to think it is advisable to spend Christmas and New Year in prison custody or to have the means by which we make ends meet seized from us by government.” he said.

    He commended the management of Guinness Nigeria Plc for the donation of breathalyser kits to the agency with a view to testing drivers’ level of drunkenness on the highway.

    He noted that with the equipment, a lot of drivers will find themselves in prison custody during Christmas and the New Year periods.

  • Guinness Nigeria declares N4.03bn dividends

    Guinness Nigeria Plc, has declared a dividend of N4.03 billion following the approval by the company’s shareholders at the 68th Annual General Meeting of the company which held in Abuja on Wednesday. The dividend declared translates to a payout of 184 kobo gross per share to the shareholders.

    The 2018 financial year, showed impressive growth as it recorded a 31% improvement in operating profit from N102 billion to N13.4 billion, Revenue increased by 14% from N125.92 billion in June 2017 to N142.98 billion, while Profit After Tax (PAT) improved significantly by 249% to N6.7bn for the year ended 30th June 2018 compared to N1.9bn reported for the year ended 30th June, 2017,

    Addressing shareholders at the 68th AGM, the Chairman of the Board of Directors, Mr. Babatunde Savage said that Guinness Nigeria Plc. has again demonstrated business resilience. He asserted that the company’s performance shows its commitment to grant shareholders returns on their investments.

    “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. 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.”

    Speaking further, Savage said that as the economy continues to improve, Guinness Nigeria Plc. is determined to ensure sustained and steady growth in the company’s operations to achieve improved returns on investments.

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    Savage said, “As a company, we will continue to appreciate the unwavering commitment of all our stakeholders; shareholders, dynamic employees, loyal consumers, dedicated suppliers and other business partners for their unflinching support through these times. We look forward to a better 2019 for our brands and our great company which you are all an important part of.”

    On his part the Managing Director/CEO, Baker Magunda, said, “in line with our strategy, Guinness Nigeria remains committed to driving returns on investment to shareholders. We also remain resolute on our commitment to continuously invest in our business to secure a sustainable future for our stakeholders.”

    Baker further said that “Guinness Nigeria is a company with strong and diversified portfolio and remains in leading positions in many of the fastest growing categories in the beverage industry. To ensure continued long-term growth, we are investing in key categories and actively managing the portfolio to ensure we stay ahead of consumer trends. Our consumers remain at the heart of everything we do to drive growth, ensuring it benefits both our shareholders and society.”

  • Guinness unveils PET bottles for non-alcoholic drinks

    Guinness Nigeria PLC has announced the launch of a PET bottle new format for its adult premium non-alcoholic drinks – Malta Guinness classic, DubicMalt, and Orijin Zero- which will be available in 33cl. The new PET bottle format of the adult premium non-alcoholic drinks has been produced with the highest quality standards Guinness Nigeria is renowned for. The bottles are portable, convenient and will allow consumers enjoy their favourite non-alcoholic drinks on-the-go.

    The Managing Director, Guinness Nigeria, Peter Ndegwa, made this announcement during the media launch of the new PET bottles when he said, “our consumers are always at the heart of what we do and the launch of these PET bottles is no exception.

    “We recognise that our consumers are always on the move and so these portable PET bottles will provide a convenient means for our consumers to enjoy their Malta Guinness, Dubic Malt and Orijin Zero on-the-go. As responsible corporate citizens, we are also aware of the dangers plastics pose to our environment, so we have already put in place measures to ensure we protect the environment. We will be working with local artists to recycle used PET bottles into fascinating art works. This partnership with local artists is just one of our many initiatives to reduce our environmental impact as well as join the global movement to advance sustainable development.

    ”To buttress this, we recently signed a MoU with Wecyclers, a profit social enterprise that promotes environmental sustainability, socioeconomic development and community health in support of our waste management agenda.”  The PET bottles were officially unveiled following a media tour of the Guinness Brewery in Ogba, Lagos, where spectacular artworks from some of the partner local artists were unveiled and show cased

    The Marketing Manager, APNADs, Omotola Bamigbaiye, who, when giving the closing remarks after the brewery tour, said “although the non-alcoholic drinks have been unveiled in new PET bottles; the great taste, nourishing vitamins of Malta Guinness, Dubic Malt and Orijin Zero will remain the same and the new PET bottles will be available to consumers in shops nationwide.”