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Sunday, 6 September 2015

Guinness Nigeria announces N118 billion revenue in 2015; proposes N4.8 billion dividend

Guinness Nigeria Plc has recorded a surge in  financial revenue totalling 118 billion naira, predisposing the company to make one of the highest turnovers among the distillery companies in Nigeria in 2015. 
Announcing this on Thursday, 3rd of September 2015 during the company's annual general meeting in Lagos the Company's Managing Director/Chief Executive Officer, Mr. Peter Ndegwa disclosed that Guinness Nigeria Plc has earned a 9% increase in net sales during the full year period as at 30thJune 2015.
In a statement made available to NUJ Europe Guiness Nigeria Plc disclosed that “the company delivered a 9% increase in net sales during the year in a tough trading environment largely driven by the growth in our RTD category and value beer segment. Our gross profit also grew by 9%. During the year, we continued to invest significantly behind our brands and our route to consumer expansion and these, together with the high interest environment, have driven a profit before tax decline of 8%”.
 Stating further that the results reflected strong volume growth on the back of year-on-year impressive performance of its innovation and value brands.

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The Board of Directors of the Company has also recommended, subject to approval at the next Annual General Meeting, slated to hold on 26thNovember 2015, the declaration of dividend of approximately N4.82 billion in respect of the year ended 30 June 2015, that is, 320 kobo per 50 kobo ordinary share. The dividend recommended, if approved at the Annual General Meeting will be paid to shareholders on 27th November 2015.

 On his part, Mr. Babatunde Savage, Chairman of the Board of Directors of the Company stated that the company have positioned itself to continuously take advantage of improving consumer confidence across its brands as expected as a result of this progress.
 “The current economic environment is challenging for all companies but we look forward to an improvement in the operating environment and are positioned to take advantage of improving consumer confidence that may occur as a result”, said Mr Savage.

NUJE Ag. President

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