Guinness Nigeria Plc has reported a remarkable 31% year-on-year revenue growth for the financial year ended June 30, 2024. Despite operating in a challenging macroeconomic environment, the company achieved significant growth, particularly in the second half of the year, with revenue increasing by 41%. This success can be attributed to an optimized product mix, innovative offerings, and strategic price adjustments.
The company’s non-alcoholic malt, ready-to-serve beverages, and international premium categories showed resilience and notable growth. Additionally, Guinness Nigeria intensified its engagement efforts through digital platforms, activations, and brand visibility.
Although the company faced increased costs due to inflation, currency devaluation, and utility cost hikes, operating profit rose by 9% due to strong revenue performance and productivity gains.
The Managing Director, Adebayo Alli, expressed pride in the team’s ability to deliver strong financial performance amid significant challenges. Looking ahead, the company remains committed to its mission of transforming Guinness Nigeria through digital innovation, consumer engagement, and investment in people and brands.
Despite facing significant currency devaluation challenges, the board remains confident in the company’s strategy. The Chairman, Dr. Omobola Johnson, emphasized the company’s commitment to continuously evaluating its strategy to ensure delivery of returns to shareholders and long-term value creation for all stakeholders.
