Guinness Nigeria Plc has bounced back to profitability, posting a ₦6.72 billion profit after tax for the nine months ended March 31, 2025. This marks a remarkable turnaround from the ₦61.65 billion loss recorded in the same period last year.
According to the company’s unaudited financial results filed with the Nigerian Exchange Limited, revenue jumped by 71.5% to ₦377.94 billion, up from ₦220.30 billion in the prior year. The strong growth was driven predominantly by domestic sales, which accounted for ₦373.88 billion, while export sales contributed ₦4.06 billion.
Despite a 79.8% rise in cost of sales to ₦274.41 billion, Guinness Nigeria recorded a gross profit of ₦103.53 billion, representing a 53% year-on-year increase.
However, operating expenses also increased. Administrative expenses rose to ₦23.95 billion from ₦13.24 billion, while marketing and distribution costs climbed to ₦50.52 billion, up from ₦35.27 billion.
The company faced significant finance expenses totaling ₦95.13 billion, largely due to foreign exchange losses on revalued currency balances. On the positive side, finance income surged to ₦80.26 billion from just ₦7.54 billion a year earlier, reflecting gains from foreign currency revaluation.
Guinness Nigeria reported a profit before tax of ₦14.39 billion, reversing a pre-tax loss of ₦60.46 billion in the same period last year. After a tax expense of ₦7.66 billion, net profit stood at ₦6.72 billion.
Earnings per share (EPS) improved significantly to 307 kobo, compared to a loss per share of 2,815 kobo in the previous year.
The company’s total assets grew to ₦285.63 billion as of March 31, 2025, up from ₦226.13 billion in June 2024. This growth was supported by stronger inventory and receivables.
Management emphasized that more than 98% of revenue was generated locally, showcasing Guinness Nigeria’s strong position in the domestic market.
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