Guinness Nigeria Plc has posted a nine percent increase in net sales during the year for the period ended June 30, 2015.
The results reflect strong volume growth on the back of year-on-year impressive performance of its innovation and value brands.
Guinness’s Managing Director/Chief Executive Officer, Peter Ndegwa observed that “We delivered a nine 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 nine 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 eight 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, 2015, the declaration of dividend of approximately N4.82 billion in respect of the year ended 30 June 2015.
The dividend which is 320 kobo per 50 kobo ordinary share if approved at the Annual General Meeting will be paid to shareholders on November 27 2015.
Babatunde Savage, Chairman of the Board of Directors of the Company stated that “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”.