Guinness Nigeria Announces 29% Profit Increase; Declare N7.14 Dividends

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 By Cyril Endurance Favour 


Admist perilous times in the business world, Guinness Nigeria Plc has announced this year N14.31 billion Profit increase in comparison to 2021.

The report was made known at the company’s 72nd Annual General Meeting, admist accolades by the board chairman of Guinness Nigeria Plc, Omobola Johnson.

With a revenue of N206.88 billion, the company’s profit was able to grow to 310 percent before tax.

The chairman declared a dividend for every N7.14 ordinary share or 50kobo approved  and advise that bank accounts be opened for the purpose of dividend payment. To which payment upon approval would be made for shareholders whose names appeared on the register of members on September 23, 2022.

In reference to unclaimed dividends, the  company’s Secretary, Rotimi Odusola said “A list of unclaimed dividends will be circulated, While others are yet to be presented to the registry for revalidation or the banks for payment”.

Furthermore, Mrs Johnson attributed the company’s remarkable performance majorly to delivering on margin accretive brands as a pioneer Total Beverage Alcohol (TBA) player.

She said “The remarkable profit improvement reflects amongst other factors, the benefits of price increases taken across all categories of our portfolio“. 

Guinness Nigeria assures its shareholders of a more fruitful 2023, while banking on its strategic investments and wide range of innovative brands tosustain profitability,  and prepares itself to take on future challenges 

Shareholders commended the company’s performance irrespective of the dynamics affecting the nation’s economy and encourage the need to leverage exportation to ascertain improved performance.

 

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