Guinness Nigeria Grows Profit by 35% to N1.8bn in Nine Months

Guinness Nigeria, a subsidiary of Diageo Plc, is on the way to delivering a bounteous harvest to shareholders for the year ending June 30, 2021, given its results for the nine months to March 31, 2021.

The total beverage alcohol company, posted a revenue ofN114.956 billion, representing a growth of 20 per cent above the N96.019 billion recorded in the corresponding period of 2020. The company reported a profit before tax (PBT) of N4.463 billion, which was 123 per cent above the N2.005 billion in the corresponding period of 2020.

But profit after tax (PAT) grew slower by 35 per cent from N1.362 billion to N1.838 billion because of higher tax charge.

The company said the performance, which was a significant improvement when compared to the same period last year, was a testament to an unwavering commitment to meeting consumer demands as well as the company’s resilience in a challenging operating environment.

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