Information reaching Nairametrics suggest Guinness Nigeria Plc could soon announce a record full year loss of about N1.8 billion.
Our sources suggest revenue were also down about 14% year on year.
Guiness Nigeria had in the third quarter ending June 2016 reported a profit after tax of N864.1 million representing an 83.4% drop from a year earlier.
Guinness reported a profit after tax of N7.7billion for the period ended June 2015 and has seen profit decline every year since 2011 when it was N17.9b.
If this scoop is confirmed then this will be Guiness’s first loss after tax in the last 10 years (since we started tracking the data).
We believe a confirmation of this result could be published anytime soon by the Nigeria Stock Exchange. It’s not uncommon to see bad results get published at the close of business.