Guinness Nigeria plc listed on the Nigerian Stock Exchange under the share code GUINNE. The company is known for brewing and packaging beverage brands such as Guinness Foreign Extra Stout, Guinness Extra Smooth, Malta Guinness, Harp Lager Beer and Smirnoff.
Guinness Nigeria Plc marked a 14% turnover which is attributed to their adoption of Total Beverage Alcoholic strategy. Profit soared 249% to land the company’s profit after tax at N6.72bn. Dividend per share price rocketed 318% from 184 kobo as per the board’s proposal. The company aims to insure their products are the most preferred in all ranges by way of brand strengthening and innovation.
The following is an excerpt from Guinness Nigeria Plc’s 2018 annual report.
Despite the continued decline of the beer market, the challenging business environment and the intense competition in the industry, the strength of our brands and Guinness Nigeria Plc’s adoption of a Total Beverage Alcoholic strategy has led to a 14% increase in turnover during the financial year. The Board and Management are reasonably confident that the strategic initiatives being introduced, our continued investment in our brands and people and the focus to revolutionize our distribution channels will continue to deliver growth for the business in the coming years.
Your Company recorded a profit after tax of N6.72bn which represent a 249% increase in profit over the preceding year. The Board has proposed a dividend per share of 184 Kobo which represents 318% increase in dividend paid in the previous financial year.
Despite the marked improvement in Nigeria’s ranking in the Ease of Doing Business Index published yearly by the World Bank, the business environment remains challenging. Government is however working assiduously through the Presidential Enabling Business Environment Council (PEBEC) to improve the business environment. We hope that the activities of PEBEC will translate into a more conducive business environment in the near future. Also, the Federal Government’s increased spend on capital projects across the country will hopefully have a positive e¨ect on general economic activities and boost consumers’ disposable income. In the long-term, we hope that structural issues which include infrastructural deficits, system ine¢ciencies and holistic policy reforms required to restore growth to faster than the pre-2015 levels are carried out by the government.
In Guinness Nigeria Plc, we are continually innovating and strengthening our brands to ensure that they are the preferred choice in every product category. We are confident that the strategies being adopted by the Board and Management will sustain our profitability and create value for our shareholders. I would like to acknowledge the role played by our business partners namely our esteemed customers- distributors, wholesalers and retail outlets, and thank them for all their support. We look forward to continuing mutually beneficial relationship with them.