Guinness Nigeria Plc announces 22bn net sales for first quarter of financial year

Lagos, 22 October 2015 – Guinness Nigeria Plc, Nigeria’s leading beverage manufacturer and a subsidiary of Diageo Plc, has announced its financial results for the first quarter ended 30 September 2015. The results showed a 3% increase in revenue year on year.

Commenting on the results, Mr. Peter Ndegwa, the company’s Managing Director/Chief Executive Officer, stated:

“In the period under review, sales continued to grow despite a challenging trading environment, being 3% ahead of the same quarter last year. Despite the sales growth, gross profit declined by 12% versus the same period last year due to the impact of exchange rate devaluation, inflation, an increased share of value brands, together with the phasing of costs. Marketing, distribution, administrative and other expenses at N8bn were 2% ahead of the prior year. Reported operating profit at N1.4bn is 50% below the previous year but is significantly impacted by the phasing of costs which is expected to reverse during the rest of the year.”

Guinness Nigeria was established in 1962 with Nigeria being the first country to have a Guinness brewery built outside of the British Isles. Products from the brewer’s stables include Guinness Foreign Extra Stout, Harp Lager Beer, Malta Guinness, Orijin Spirits Mixed Drink and Satzenbrau Lager.

ENDS

 Media Enquiries: 
Corporate Relations Director
Guinness Nigeria Plc
24, Oba Akran Avenue
Ikeja, Lagos.
Tel: +234 1 2709100 
sesan.sobowale@diageo.com

About Guinness Nigeria and Diageo
Guinness Nigeria Plc is a leading alcohol beverage manufacturer in Nigeria and one of the oldest companies in Nigeria. Listed on the Nigerian Stock Exchange in 1965, Guinness Nigeria is also one of the foremost quoted companies in Nigeria having built its first brewery in Ikeja in 1962, and currently has facilities in Ogba, Benin City and Aba.

Brands from the stables of Guinness Nigeria include Guinness, Foreign Extra Stout and Extra Smooth, Malta Guinness, Harp Lager, Dubic Lager, Snapp and Orijin. 

Guinness Nigeria Plc is a member company of Diageo Plc; the world’s leading premium drinks business with an outstanding collection of brands such as Johnnie Walker, Smirnoff, Ciroc, J&B, Baileys, Cuervo, Tanquery and Captain Morgan amongst others.

For our global resource that promotes responsible drinking through the sharing of best practice tools, information and initiatives, visit www.DRINKiQ.com. For more information please visit www.guinness-nigeria.com

Diageo is a global leader in beverage alcohol with an outstanding collection of brands across spirits, beer and wine categories.  These brands include Johnnie Walker, Crown Royal, JεB, Buchanan’s, Windsor and Bushmills whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and Guinness.

Diageo is a global company, and our products are sold in more than 180 countries around the world.  The company is listed on both the London Stock Exchange (DGE) and the New York Stock Exchange (DEO).  For more information about Diageo, our people, our brands, and performance, visit us at www.diageo.com. 

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