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Home Markets Equities Stock Market

Guinness Q2’15 Profits Takes A Dive, Down 66%

Research Team by Research Team
February 1, 2016
in Stock Market
Guinness Nigeria Appoints New Directors
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Guinness Nigeria released its financial results for the period ended 31 December, 2015.

The result showed that revenue declined by 10% from N55.2 billion in Q2’14 to N49.8 billion in Q2’15, the company also reduced its distribution and admin expenses by 5% from N19 billion in 2014 to N18 billion in 2015.

Profit before tax declined by 65% from N4.6 billion in Q2’14 to N1.6 billion in Q2’15, while the Profit after tax declined by 66% from N3.3 billion in Q2’14 to N1.1 billion in Q2’15.

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The CEO of Guinness had stated last year after the release of the Q1 result that the company was affected by the impact of exchange rate devaluation, inflation, an increased share of value brands, together with the phasing of costs.

It will be interesting to see what reasons the CEO will give for the decline in profit in the second quarter.

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Tags: Guinness NigeriaNigerian Company Results
Research Team

Research Team

The Research Team at Nairametrics meticulously monitors, gathers, curates, and administers an extensive repository of both macroeconomic and microeconomic data originating from Nigeria and across Africa. Utilizing a variety of presentation formats—including documents, tables, and charts—our analysts disseminate key findings through the Nairametrics platform. Additionally, we regularly release insightful, research-driven articles that offer in-depth analyses of economic trends and indicators.

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