• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Guinness Plc gives reasons for its declining beer sales volume

Fikayo Owoeye by Fikayo Owoeye
November 21, 2018
in Business News, Company News
Guinness Nigeria, Guinness Nigeria Announces Material Circumstances That Will Impact FY 2020, Guinness Nigeria posts N524 million profit in Q2 2020/21
Share on FacebookShare on TwitterShare on Linkedin

Guinness Nigeria Plc, a subsidiary of Diageo Plc, has attributed the six per cent decline in its net sales during the Q1 2018/2019 financial year which ended 30th September, to increased competition in the value beer segment, that more than offset growth across the rest of the business.

In its unaudited financial statements for the period under review, the company noted that its increase in profit before tax was driven by lower finance charges. It said this was as a result of the N39.7 billion rights issue, which more than offset operating profit decline in the company’s challenging operating environment. It, however, declared N1.2 billion as its profit for the period under review.

Mr Baker Magunda, Managing Director/Chief Executive Officer, Guinness Nigeria Plc, noted that the company delivered a result that reflected the continued challenges in the operating environment and increased competition in the beer category.

RelatedStories

Guinness Nigeria Plc

Guinness Nigeria reports N20 billion profit, 6 months after Tolaram takeover

January 23, 2025
LASG,

Lagos govt seals Coca-Cola, Guinness, Peak Milk factories over unauthorised groundwater use 

December 24, 2024

According to him, continued inflationary pressure on raw material costs and volume declines impacted both gross profit and its operating profit. He said the profit before tax, however, benefitted from a significant reduction in net finance charges as a result of the rights issue.

“Looking forward, we will continue to focus on the three strategic pillars of productivity, expansion of our portfolio, as well as the execution of the commercial footprint initiatives to improve performance in the business.”

He further added that while the management remained optimistic about the execution of the new strategy, they took into consideration the fact that the operating environment may likely continue to be challenging for the rest of the year and even in the 2019 financial year.

The beer segment has continued to experience a stiff competition among the three major players in the country namely, Nigerian Breweries, Diageo-owned Guinness Nigeria Plc, and AB InBev-owned International Breweries.

The year 2011 ushered in a disruption in the beer market with the arrival of SABMiller and its acquisition of majority shares in International Breweries Plc, makers of Trophy Beer, located in Ilesa, Osun-State. However, in 2017, AB InBev acquired 72.17% of SABMiller’s shares in International Breweries Plc, in a series of transactions which resulted in AB InBev acquiring controlling interests in the company.

Interestingly Guinness remains the biggest in the Spirit segment while other brewers are not ready to enter this segment.

Guinness Nigeria Plc brews beer; the Company further packages and markets beverages such as Guinness Stout, Malta Guinness, Harp larger, Gordon’s Spark and other Spirits brands. Its shares are currently trading at N74.00 with its one year return down by 25.17%.


Follow us for Breaking News and Market Intelligence.
Tags: Baker MagundaGuinness Nigeria Plc
Fikayo Owoeye

Fikayo Owoeye

Fikayo has a degree in computer science with economics from Obafemi Awolowo University. ITIL v3 in IT service management. An alumnus of Daystar Leadership Academy. Prior to joining Nairametrics had stinct in Project management, Telecommunications among others. Also training in Consulting and Investment banking from Edubridge Academy. He has very keen interest in Politics, Agri-business, private equity and global economics. He loves travelling and watching football. You can contact him via fikayo.owoeye@nairametrics.com

Related Posts

Guinness Nigeria Plc
Breaking News

Guinness Nigeria reports N20 billion profit, 6 months after Tolaram takeover

January 23, 2025
LASG,
Business News

Lagos govt seals Coca-Cola, Guinness, Peak Milk factories over unauthorised groundwater use 

December 24, 2024
Tolaram to acquire Diageo’s shareholding in Guinness Nigeria PLC
Companies

Guinness Nigeria remains firmly rooted in Nigeria, No plans to exit

June 15, 2024
Tolaram to acquire Diageo’s shareholding in Guinness Nigeria PLC
Corporate Updates

Tolaram to acquire Diageo’s shareholding in Guinness Nigeria PLC

June 11, 2024
Guinness Nigeria Plc
Companies

Guinness Nigeria Plc announces unaudited results for the period ended 31 March 2024

April 26, 2024
Guinness Nigeria Plc
Company Results

Naira decline drags Guinness Nigeria to net loss of N61.7 billion

April 25, 2024
Next Post
Priti Patel

Why UK official warned investors against investing in Nigeria

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • BBNaija season 10 to launch July 26 with N150 million grand prize 
  • NIPC and Nairametrics partner to track and publish investment inflow into Nigeria 
  • Alleged N6.9bn Fraud: EFCC to appeal Ex-Ekiti Governor Fayose’s acquittal in 6-year-old case 

Follow us on social media:

Recent News

How BBNaija can help non-entertainers achieve unique business goals

BBNaija season 10 to launch July 26 with N150 million grand prize 

July 16, 2025
NIPC and Nairametrics partner to track and publish investment inflow into Nigeria 

NIPC and Nairametrics partner to track and publish investment inflow into Nigeria 

July 16, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics