Guinness grows half-year profit to N2.57bn amid subdued revenue

Guinness Nigeria Plc has released its half year (H1) unaudited financial statements for the period ended December 31, 2018.

The brewer reported N2.57billion in profit after tax (PAT), representing an increase of about 20.65percent when compared to N2.13billion profit in same period of 2017.

The company closed the H1’18 period with revenue of N67.79billion which represents a decline of about 3.91percent when compared to N70.55billion in H1’2017.

Guinness Nigeria Plc profit before tax (PBT) of N3.79billion in H1’18 as against N3.54billion in H1’18 implies an increase of 7.06percent in the review period.

Related News

Its gross profit in the H1’18 period at N20.49percent against N23.99billion implies a decline of about 14.58percent. Operating profit of N4.63billion in H1’18 as against N6.64billion in H1’17 represents 30.27percent decline.

Basic Earnings Per Share (EPS) stood at 118kobo as against 141kobo in H1’17. As at Tuesday January 29, 2019 Guinness share price at N71 represents a decline of 1.4percent this year. The company’s share price had reached a 52-week high of N114 and a 52-week low of N63.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.