Lagos, April 15, 2025 — Guinness Nigeria Plc has announced a sharp rise in revenue, reporting sales of N730.80 billion over an 18-month financial period, representing a 144 per cent increase following a shift in its accounting year-end from June 2024 to December 2025.
The disclosure was made by the company’s Chairman, Prof. Fabian Ajogwu, during its 75th Annual General Meeting held in Lagos.
He explained that the reporting period covered performance from July 2024 through December 2025 due to the adjusted financial calendar.
According to him, revenue growth was supported by an improved product mix, the introduction of new offerings, and strategic price adjustments aimed at cushioning inflation and rising operational costs.
Ajogwu noted that all business segments performed steadily, with particularly strong gains in the Ready-to-Drink category.
He added that gross margins increased significantly, driven by tighter cost control and improved pricing strategies, while operating margins also rose sharply due to reduced expenses and more efficient marketing spending.
The company recorded a profit of N41.16 billion for the period, marking a strong turnaround from a loss of N54.77 billion in the previous comparable year.
Profit from operating activities climbed to N89.27 billion from N25.41 billion, reflecting improved efficiency across operations.
Profit before tax also improved to N68.39 billion, compared to a loss of N73.68 billion previously, while after-tax profit settled at N41.16 billion following a tax charge of N27.23 billion.
Total comprehensive income mirrored the same figure, reversing the prior year’s loss position.
At the AGM, shareholders approved the appointment of Mr. Mayank Kabra as Executive Director, alongside the inclusion of Mrs. Bola Adesola and Mrs. Olusola Oworu as Non-Executive Directors.
Shareholders and market stakeholders commended the company’s performance and board structure, with the Highly Favoured Shareholders Association praising its gender balance.
The Independent Shareholders Association of Nigeria urged the firm to extend more support to elderly investors, while a capital market analyst recommended the introduction of interim dividends and stronger export expansion to enhance future earnings.