Guinness Nigeria Plc share price closed today at N270, its lowest in about three months. Since it released its half year earnings report back in February showing a 16% drop in pre-tax profits (N9.4billion 2012:H1)their share price has dwindled considerably since then. It has now shed about 8% since month to date (March 4) and 9% from its year high.
The company had attributed the weak earnings report in the first half of the year to “a soft market and it’s all to do with the discretionary income of the consumer remaining challenged”.
However, those who bought the shares about a year ago and still holding still enjoy an impressive 32.96 return.