Guinness Nigeria has recorded a 5 percent drop in profit in its Q1 ended September 2023, driven by rising input costs and FX loss during the period.
The brewer’s profit after tax dropped to N2.6 billion in Q1’2023 from N2.75 billion in the same period of 2022.
Guinness Nigeria's input cost
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Folake Balogun
Folake Balogun is a tech journalist covering Africa’s fast-growing digital economy with a strong focus on incisive analysis of startup trends, venture capital, and fintech innovation, while also exploring emerging technologies such as artificial intelligence and the future of connectivity by highlighting their economic and social impact.
