Guinness Nigeria nine-month profit rises 53% to US$30.3M

NIGERIA – Guinness Nigeria Plc increased its revenue by 20.4% to N403.33 billion (US$300.36M) in the nine months ended September 30, 2026, while profit after tax rose 53.1% to N40.69 billion (US$30.3M), according to its unaudited financial results.  

Revenue grew from N335.07 billion (US$249.53M) in the corresponding period of 2025, while profit after tax increased from N26.59 billion (US$19.80M). Profit before tax climbed 55.3% to N61.65 billion, compared with N39.69 billion (US$27.32M) a year earlier, reflecting stronger earnings.  

Gross profit increased 20.4% to N151.38 billion (US$112.73M) from N125.7 billion (US$93.61M). Profit from operating activities rose 23.4% to N64.98 billion (US$48.39M), up from N52.64 billion (US$39.20M), despite higher administrative, marketing and distribution expenses.  

The company’s improved bottom-line performance was also supported by lower finance expenses, which declined 61.9% to N5.83 billion (US$4.34M) from N15.30 billion in the corresponding period of 2025. Earnings per share increased to 1,858 kobo from 1,214 kobo.  

Following the results, the Board approved an additional interim dividend of N7 per share, representing a distribution of approximately N15.33 billion. The declaration brings total interim dividends for the financial year to N16 per share.  

The total comprises N2 per share declared after the first quarter, N7 per share following the second quarter and the N7 per share payment.  

Board Chairman Prof. Fabian Ajogwu, SAN, said the results reflected progress in strengthening the company’s financial performance and building a more resilient business.  

“These results reflect the progress Guinness Nigeria is making in strengthening its financial performance and building a more resilient business. The continued growth in revenue and profitability, alongside our disciplined approach to financial management, provides a solid foundation for the next phase of our journey. Our commitment remains to provide strong governance, support sustainable business growth and deliver enduring value to our shareholders,” he said.  

Managing Director and Chief Executive Officer Girish Sharma said the nine-month performance demonstrated progress in improving profitability.  

“Our nine-month performance reflects the progress we are making in strengthening the business and improving profitability. Revenue growth, higher operating earnings and a significant reduction in finance costs have contributed to a stronger bottom line. While the operating environment remains dynamic, we remain focused on disciplined execution, operational efficiency and delivering sustainable value for our consumers, customers and shareholders,” Sharma said.  

The company said its focus remained on operational efficiency and sustainable value creation for consumers, customers and shareholders as it continued to navigate the operating environment.  

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