The Directors of Guinness Nigeria Plc hereby announce the company’s unaudited results for the period ended 31 December 2024.
Commentaries
Despite challenging market conditions, Guinness Nigeria PLC’s H1 ’25 results demonstrate resilience and strategic focus, achieving key milestones across its operations.
Key Financial Highlights:
- Net Sales: Net sales increased significantly by 82.2% from ₦142.60 billion in H1’24 to ₦259.60 billion in H1’25, reflecting the company’s robust revenue generation strategies and geographic footprint expansion.
- Gross Profit: Gross Profit rose by 28.4%, from ₦45.94 billion in H1’24 to ₦59.01 billion in H1’25, despite a slight contraction in gross profit margin to 22.7% from 32.2% due to higher cost of sales.
- Operating Profit: Operating profit declined to ₦11.26 billion in H1’25, compared to ₦16.40 billion in H1’24, primarily driven by inflationary pressures.
- Net Profit After Tax: The company recorded a marginal net loss of ₦0.30 billion in H1’25, a significant improvement compared to the net loss of ₦5.23 billion in H1’24.
Despite the continuing macro-economic challenges, the Board remains confident in the Company’s well-crafted strategy and is committed to continuously evaluating this strategy against the evolving business landscape, to deliver returns to its shareholders and create long-term value for all stakeholders.
By Order of the Board.
Ademola, Abidemi
Company Secretary
FRC/2013/NBA/00000001646
Dated this 23 January 2025