Guinness Revenue Up 8%, Offers N4.8b Dividend | Independent Newspapers Limited
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Guinness Revenue Up 8%, Offers N4.8b Dividend

Posted: Sep 9, 2015 at 12:04 am   /   by   /   comments (0)

Guinness Nigeria Plc has announced its full year results for the period ended 30th June 2015 reporting a 9 per cent increase in net sales during the year.

The results reflect strong volume growth on the back of year-on-year impressive performance of its innovation and value brands.

Revenue for the period rose by 8 per cent from N109.202 billion in the corresponding period of 2014 to N118.495 billion, profit before tax depreciated by 8 per cent from N11.681 billion to N10.795 billion, profit after tax dropped to N7.794 billion from N9.573 billion, representing a drop of 19 per cent, basis earnings per share went down by 19 per cent from 636 kobo in 2014 to 518 kobo.

Commenting on the results, the company’s Managing Director/Chief Executive Officer, Mr. Peter Ndegwa, observed, “We delivered a 9 per cent 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 per cent. 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 percent.”

The board of directors of the company has also recommended, subject to approval at the next annual general meeting, slated to hold on 26th November 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 recommended dividend, 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, “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.”