Business Briefs
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GUINNESS Nigeria Plc has announced its full year results for the period ended June 30, 2015, reporting a 9 percent 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.
Commenting on the results, the company’s managing director, Peter Ndegwa said: “We delivered a 9 percent 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 percent. 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 November 26, the declaration of dividend of approximately N4.82 billion in respect of the year ended June 30, that is, 320 kobo per 50 kobo ordinary share. The dividend recommended, if approved at the annual general meeting will be paid to shareholders on November 27.
On his part, 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”.
— September 6, 2015 @ 12:13 GMT
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