Tag: Guinness Nigeria

Managing Director/CEO of Guinness Nigeria, Girish Sharma has reflected on the brand’s rich history and profound emotional connection with Nigerians.

Speaking at its 75th anniversary dinner in Lagos, Sharma expressed delight at the brand’s journey so far despite challenges.

“We’re glad to be here with our critical stakeholders to celebrate Guinness at 75. We’re not in the business of selling beverages, but in the business of selling happiness. After going through stressful days, we are glad to brew the happiness that Nigerians return to and to have done this for 75 eventful years,” he said.

“We have faced challenges, but we have a much better future where we will be stronger, sharper, and more transformed. This success is powered by the people who stood by us – our employees, past and present, our distributors, and the regulators,” he said.

The  event,with the  theme: “A Bold Past, A Bright Future,” attracted captains of industry, government leaders, trade partners, regulators, staff, royal fathers, diplomats, and the media.

 Chairman of the Board, Prof.Fabian Ajogwu(SAN), highlighted the brand’s legacy of care and community.

“Guinness has shown vision, resilience, and purpose. Part of what we also celebrate today are those who have pledged allegiance to the order of the Black Bottle over the years.

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“Guinness has always been a brand built on care – care for the communities we serve, where we are, and this also finds expression in our deliberate choice of the musical band that has just performed, the Federal Nigerian School of the Blind. We care for and serve the underserved and underprivileged. From ready-to-drink innovations to heritage breweries, Guinness has earned its place in homes, celebrations, and in culture,” he said.

The Secretary to the Lagos State Government, Barr. Abimbola Salu-Hundeyin, representing the Governor of Lagos State, Mr. Babajide Sanwo-Olu, emphasized the company’s cultural imprint.

“We are glad to celebrate a remarkable 75 years of Guinness Nigeria Plc, a company that has become a part of the rich history, culture, and the enduring soul of Lagos and of Nigeria. The story of Guinness Nigeria has never been just about beer – it is, above all, a story about the people, about the thousands of Nigerians employed, the communities supported, and the shared identity built over generations,” she said.

Representing the President of the Federal Republic of Nigeria, Sen. John Owan Enoh, Minister of State for Industry, Trade and Investment, lauded the brand’s sustained commitment to national growth.

“Guinness Nigeria’s 75th anniversary celebration is a major milestone. We recognise and celebrate its unyielding commitment to sharing happiness in Nigeria these past 75 years, and we commit to making the environment more conducive for the business to endure much longer,” he said. “Guinness means much to Nigerians as we do not only celebrate its corporate existence but also its relationship with the people. Guinness has invested, innovated, and grown in ways worth celebrating,” he stated.

Guinness Nigeria Plc recorded a remarkable turnaround in performance despite a persistently challenging economic environment and an intensely competitive landscape.

The announcement comes in a landmark year for the company, as Guinness Nigeria celebrates 75 years of operations in Nigeria—a testament to the enduring strength of its brands, its people, and its commitment to brewing excellence.

In the period under review, the company delivered strong topline growth, with revenue rising by 65.8 per cent to N496.6 billion, up from N299.5 billion in the previous year. Gross profit grew by 62.2 per cent to N148.3 billion, while operating profit rose by 86.6 per cent to N47.4 billion. Most notably, the company returned to profitability with a net profit after tax of N16.2 billion, compared to a N54.7 billion loss recorded in full year 2024.

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Chairman, Guinness Nigeria Plc, Prof. Fabian Ajogwu, said the results reflected Guinness Nigeria’s focused execution of its strategic priorities, disciplined cost management, and the resilience of its people and portfolio.

He said: “This strong turnaround speaks to the quality of leadership, clarity of vision, and strength of governance at Guinness Nigeria. As we mark 75 years of doing business in Nigeria, this performance underscores our long-standing resilience and commitment to value creation. The Board remains confident in the company’s long-term strategy and is committed to sustaining this momentum for our shareholders and stakeholders”.

Managing Director, Guinness Nigeria Plc, Girish Sharma, said the results reflected the company’s focus, agility, and deep connection with its consumers.

He said: “We have set a clear ambition—to be one of the best performing, most trusted, and most respected consumer products companies in Nigeria. That ambition is driving us to build a high-performance organisation with an entrepreneurial spirit. While the external environment remains dynamic, we are building on this momentum with confidence and purpose”.

He assured that Guinness Nigeria remains committed to delivering long-term, sustainable growth while continuing its legacy of enriching lives and communities across the country.

Guinness Nigeria Plc, marked its 75-year journey with an anniversary celebration at its Ogba-Ikeja headquarters in Lagos last week. The was dedicated to honouring employees, trade partners, and stakeholders whose unwavering support has helped shape the company’s impactful legacy across seven decades.

The celebration gathered distinguished guests, including prominent business leaders, senior government representatives, industry veterans, notable entertainers and media executives, underscoring Guinness Nigeria’s integral role in the country’s industrial and cultural fabric since Guinness Stout was first introduced to Nigeria in 1950, and particularly since local brewing commenced in Lagos in 1962.

In his address, Guinness Nigeria’s Board Chairman, Professor Fabian Ajogwu (SAN), captured the spirit of gratitude and achievement that defined the evening.

Tonight, he said, “we celebrate more than a corporate milestone-we celebrate the spirit of excellence, resilience, and Nigerian ingenuity. Guinness Nigeria’s legacy is built upon generations of visionary leadership, devoted employees, and enduring partnerships.

“As we reflect on our past triumphs, we are equally excited about our shared future with the Tolaram Group, whose own history of excellence perfectly aligns with ours.”

On his part, the Managing Director Girish Sharma offered a heartfelt reflection on reaching this significant milestone:

“Seventy-five years is more than a milestone-it’s a testament to trust, resilience, and the enduring bond between our brands and the Nigerian people. From brewing our first bottle of Guinness locally in 1962 to becoming Nigeria’s foremost total beverage company,” adding, “our journey has been fueled by purpose.

“At the heart of everything we do is a commitment to celebrating life every day, everywhere, and as we look ahead, we are resolutely focused on building for more-more innovation, more impact, and more shared moments with the people who make this journey worthwhile.”

The Director-General of the Manufacturers Association of Nigeria, Segun Ajayi-Kadir,7 praised Guinness Nigeria’s steadfast, resilience and visionary leadership.

He described the company as a “shining beacon, a testament to the potential of the Nigerian economy, and a pivotal player in Nigeria’s industrialization story, one impossible to tell without acknowledging Guinness’s indelible mark.”

Also speaking, Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Lagos State, Folashade Ambrose-Medebem, who represented the state Governor, Babajide Sanwo-Olu, praised Guinness Nigeria’s extensive impact:

He said: “Guinness Nigeria’s contributions transcend job creation. They have placed Lagos and Nigeria prominently on the global stage. Their pioneering efforts in talent development, innovation and economic growth serve as a benchmark for businesses nationwide and a continuous source of pride for all Nigerians.”

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Guests enjoyed a vibrant evening of world-class entertainment, exquisite cuisine, and the exclusive premiere of “75 Years of Greatness”, a compelling documentary chronicling Guinness Nigeria’s profound influence on Nigeria’s socio-economic and cultural landscape.

Special recognition awards were presented to long-serving employees and dedicated trade partners, underscoring the company’s deep appreciation for their pivotal roles.

As part of its ongoing commitment to social responsibility, Guinness Nigeria continues to deliver transformative initiatives across the country. These include the Guinness Eye Centres in Lagos and Onitsha, offering free sight-restoring surgeries; the acclaimed Water of Life programme, bringing safe drinking water to thousands of Nigerians; Plan W, empowering over 1,400 women with entrepreneurial skills and financial literacy; and the Guinness Nigeria Undergraduate Scholarship Scheme, supporting educational opportunities nationwide.

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 reinforced its commitment to excellence by driving operational efficiency, championing innovation, and maintaining a customer-centric approach. With a strong foundation and a bold, forward-looking strategy, the company is not just navigating current market challenges but setting the stage for transformative growth. As it continues to deliver value for stakeholders and strengthen its leadership in the FMCG sector, Guinness Nigeria remains a symbol of resilience and progress in the Nigerian business landscape.

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 82.2 per cent revenue increase, growing from N142.60 billion in first half 2024 to N259.60 billion in first half 2025. 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 N59.01 billion, a 28.4 per cent increase compared to N45.94 billion in the prior period.

However, operating profit declined to N11.26 billion from N16.40 billion in first half 2024, reflecting the impact of higher cost of sales. Notably, the company narrowed its net loss significantly to N302.7 million in first half 2025, a remarkable recovery from the N5.23 billion net loss recorded in first half 2024.

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.”

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Echoing similar sentiments, the Managing Director, Girish Sharma said, “Our first half 2025 performance is a testament to our agility and determination to navigate economic challenges while focusing on long-term growth. The 82.2 per cent  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 reinforced its commitment to excellence by driving operational efficiency, championing innovation, and maintaining a customer-centric approach. With a strong foundation and a bold, forward-looking strategy, the company is not just navigating current market challenges but setting the stage for transformative growth. As it continues to deliver value for stakeholders and strengthen its leadership in the FMCG sector, Guinness Nigeria remains a symbol of resilience and progress in the Nigerian business landscape

Guinness Nigeria Plc has recorded an impressive performance according to its unaudited financial results for the quarter 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.

Specifically, 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.

Dr. Omobola Johnson, Chair of the Board of Directors, commented on the results: “Our robust revenue performance reflects the resilience of our brands and the strength of our market presence. However, the difficult macroeconomic environment, characterised 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.”

Also 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.

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 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.

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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.

Guinness Nigeria is the foremost Total Beverage Alcohol company in Nigeria with a wide portfolio of brands catering to consumers of non-alcohol and alcohol beverages including Malts, Ready-to-Drinks, Spirits, Stout & Beers. 

Some of its well-known and well-respected brands include, Guinness Foreign Extra Stout, Guinness Smooth, Malta Guinness, Orijin Bitters, Dubic Malt, Gordons Pink Berry, Gordons Orange Sunset, Smirnoff Ice, Smirnoff X1 Choco Vodka, Smirnoff Pine-apple Punch, amongst others.

Tolaram has announced a new management and board for Guinness Nigeria Plc in a move that affirmed the formal takeover of the management of the breweries.

The appointment of new board and management came as Tolaram completed acquisition of 58.02 per cent controlling stake in Guinness Nigeria Plc.

In a regulatory filing at the Nigeria Exchange (NGX), Guinness Nigeria announced the resignations of several directors including Mr Adebayo Alli – Managing Director; Ms Joan Hodgins – Non-Executive Director; Mrs. Grainne Wafer- Non-Executive Director and Mr. Leo Breen.

The company also confirmed the appointment of Mr Girish Sharma as the new Managing Director, Mr Haresh Aswani – Vice Chair and Non-Executive Director, Mr Deepak Singhal – Non-Executive Director, and Mr John Musunga – Non-Executive Director.

In June 2024, Diageo and Tolaram had announced a proposed transaction that would have Diageo transfer ownership of its 58.02 per cent  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.

While commenting on the completion of the share transfer transaction and the newly constituted board, Chairman, Guinness Nigeria Plc, Dr. Omobola Johnson said the entire company is excited about what the future holds in this new era as it embraces 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. 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,” Johnson said.

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She 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.

Sharma, a seasoned business leader with a track record of transformative leadership, 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, Sharma was CEO of Tolaram’s joint venture with Colgate-Palmolive, delivering a remarkable 70 per cent compound annual growth rate in top-line revenue year-on-year in the five-year period since the inception of the Colgate-Palmolive Tolaram joint venture.

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 said: “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.”