Guinness Nigeria reports 144% revenue growth to US$486.9M in 18 months 

NIGERIA – Guinness Nigeria Plc reported revenue of ₦730.8 billion (US$486.9 million) for the eighteen-month period ended December 31, 2025, representing a 144% increase compared to ₦299.5 billion (US$199.7 million) recorded in the twelve months ended June 2024. 

The brewer disclosed the figures in its audited financial results, marking its first full reporting cycle following its transition to a December 31 financial year-end and its ownership change to Tolaram Group. The results also showed significant improvements across key profitability metrics, reflecting strengthened operational performance. 

Gross profit rose by 152% to ₦230.5 billion (US$153.7 million), supported by improved productivity and disciplined cost management. Operating profit increased by 251% to ₦89.3 billion (US$59.6 million), highlighting enhanced commercial execution and operational efficiency. 

The company returned to profitability with a net profit after tax of ₦41.2 billion (US$27.5 million), reversing the ₦54.7 billion (US$36.5 million) loss reported in the previous financial year. 

Chairman Fabian Ajogwu said the results demonstrate the company’s resilience and strategic execution during a critical transition period. “These audited results reflect the resilience of Guinness Nigeria and the disciplined execution of our strategy during a pivotal period for the company,” Ajogwu said. 

“As we build on a 75-year legacy in Nigeria, the Board is encouraged by the company’s improved financial strength and sustained performance momentum. We remain firmly committed to delivering long-term value to our shareholders and stakeholders,” he added. 

Chief Executive Officer Girish Sharma said the company’s latest financial year highlights progress in strengthening its business foundation.  

He said the reporting cycle “underscores the effectiveness of its sharpened commercial focus and operational discipline.” 

Sharma added that Guinness Nigeria remains committed to disciplined execution, responsible business practices, and delivering sustainable growth in the years ahead. 

The financial performance follows a major ownership transition after Diageo Plc exited its majority stake in the Nigerian brewer.  

In 2024, Tolaram, through N-Seven Nigeria Ltd., acquired Diageo’s 58% shareholding and increased its ownership to 70.86% through a mandatory takeover offer. 

The acquisition gave Tolaram control of one of Nigeria’s oldest brewing companies, founded in 1950. Guinness Nigeria produces several leading brands, including Guinness Foreign Extra Stout, Malta Guinness, and Smirnoff Ice, under long-term licensing agreements. 

The company said the latest results reflect both operational momentum and the strengthening of its capital structure following the ownership transition. 

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