Guinness Nigeria Rebounds: Reports N6.72BN Profit in Latest Quarter

Guinness Nigeria Plc announced a profit after tax of ₦6.72 billion for the nine-month period ending March 31, 2025, which represents a turnaround from the losses amounting to ₦61.65 billion recorded during the corresponding timeframe in 2024.

Recently, the company's unaudited financial reports submitted to the Nigerian Exchange Limited revealed a significant increase in revenue by 71.5%, rising to ₦377.94 billion from ₦220.30 billion in the previous term. This growth was primarily driven by an uptick in local sales, accounting for ₦373.88 billion, along with export sales totaling ₦4.06 billion.

The cost of sales rose by 79.8 percent to N274.41 billion from N152.64 billion. Even with these elevated expenses, Guinness Nigeria managed to achieve a gross profit of N103.53 billion, which represents a 53 percent increase from the prior year’s figure of N67.66 billion.

Administrative costs increased to ₦23.95 billion from ₦13.24 billion, whereas marketing and distribution expenditures surged to ₦50.52 billion from ₦35.27 billion recorded in 2024.

Financial costs increased to ₦95.13 billion, largely due to foreign exchange losses resulting from the revaluation of foreign currency balances. Nonetheless, the firm saw an increase in financial income to ₦80.26 billion from just ₦7.54 billion previously, highlighting profits derived from adjustments in foreign currency valuations.

The pretax profit amounted to N14.39 billion compared to a pretax loss of N60.46 billion during the same timeframe in 2024. Following the deduction of a tax expense totaling N7.66 billion, Guinness Nigeria reported a net profit of N6.72 billion for the period.

Earnings per share were 307 Kobo, compared to a loss per share of 2,815 Kobo in the previous period.

As of March 31, 2025, total assets increased to N285.63 billion from N226.13 billion as of June 2024, indicating an improved stance in inventory and accounts receivable.

The firm's leadership observed that more than 98 percent of its income came from local sources, underscoring its robust position within the Nigerian marketplace.

The PUNCH It has been reported that Guinness Nigeria Plc saw a 82.2 percent rise in revenues for the first half ending December 31, 2024.

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