Guinness Nigeria Plc has reported a 144 per cent increase in sales to N730.80 billion for an 18-month financial period, following a change in its financial year-end from June 2024 to December 2025.

Chairman of the company, Prof. Fabian Ajogwu, disclosed this at the company’s 75th Annual General Meeting (AGM) held in Lagos.

Mr Ajogwu said that the adjustment resulted in the financials covering performance from July 2024 to December 2025.

He said, “During the period, the company’s sales grew to N730.80 billion, marking a 144 per cent increase from N299.5 billion recorded in the previous period.

“This growth was driven by an optimised product mix, new innovations and carefully implemented price adjustments to offset inflationary and cost pressures.”

He added that all product categories recorded resilient performance, with strong growth in ready-to-drink beverages.

According to him, gross margins rose by 152 per cent due to improved cost management and better pricing strategies, while operating margins increased by 251 per cent, supported by strict cost control and optimised marketing investments.

The company posted a profit of N41.16 billion for the 18-month period ended December 2025, a significant recovery from the loss of N54.77 billion recorded in the corresponding 12-month period of 2024.

Profit from operating activities rose to N89.27 billion from N25.41 billion in 2024, reflecting improved operational efficiency.

Similarly, profit before tax stood at N68.39 billion, compared with a loss of N73.68 billion in the previous year.

After accounting for an income tax expense of N27.23 billion, net profit stood at N41.16 billion.

Total comprehensive income for the period also improved to N41.16 billion, from a comprehensive loss of N54.77 billion recorded in 2024.

Meanwhile, shareholders approved the appointment of Mayank Kabra as Executive Director, alongside Bola Adesola and Olusola Oworu as Non-Executive Directors.

In separate remarks, stakeholders commended the company’s board composition and performance.

Chairperson of the Highly Favoured Shareholders Association of Nigeria, Adetutu Shiyanbola, lauded the firm for maintaining gender balance on its board.

Also, the National Coordinator of the Independent Shareholders Association of Nigeria, Sunny Nwosu, urged the company to prioritise the welfare of elderly shareholders beyond dividend payments.

A capital market analyst, Nornah Awoh, advised the company to consider adopting both interim and final dividend payments to further enhance shareholder value, while exploring export opportunities to boost revenue.

(NAN)