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Guinness Nigeria Plc: Increase in Nigeria sales boosts revenues

Guinness of Nigeria Plc recorded a boost from increase in its Nigeria revenue-generating unit.

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Baker Magunda, Guinness Nigeria Plc, Baileys, Why Guinness is a stock to pick - RenCap , Heavy sell-off in Guinness shares leads to N6.9 billion market value loss in a single day

Guinness of Nigeria Plc Nigeria Plc reported revenues of N30.02 billion in 2020 Q1 compared to N26.90 billion in the corresponding period of 2019.

Key highlights for 2020 Q1

  • Revenues increased to N30.02 billion, +11.62% YoY.
  • Revenues from Nigeria increased to N29.65 billion, +13.14% YoY
  • Revenues from export decreased to N373.21 million, -46.10% YoY.
  • Gross profit decreased to N7.01 billion, -11.88 YoY.
  • Marketing and distribution expenses decreased to N4.63 billion, -11.10% YoY.
  • Administrative expenses decreased to N2.01 billion, -7.95% YoY.
  • Pre-tax loss decreased to N317.48 million, -14.29% YoY.

Bottom Line

Guinness of Nigeria Plc recorded a boost from an increase in its Nigeria revenue-generating unit. However, revenues from the export revenue-generating unit dipped.

Companies have generally recorded decreased revenues in the last three quarters, mostly due to COVID-19. However, Guinness Nigeria Plc was able to increase its total revenues. The pre-tax loss also decreased due to a reduction in marketing and distribution, as well as administrative expenses.

Adeyemi holds a PhD in Accounting Sciences. He has worked in the Educational Sector and as an Independent Consultant.

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Rak Unity Petroleum Company Plc reported revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

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Rak Unity Petroleum Company Plc released its 2021 FY results reporting total revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

  • Operating expenses during the year was N149.65 million in 2020 compared to N221.89 million in 2019. –32.56% YoY
  • The company reported a loss after tax of N63.02 million in 2020 compared to N14.52 million loss after tax in 2019.
  • It reported a loss per share of N1.11  in 2020 compared to N0.26 loss per share reported in 2019.
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Conoil posts 23% post-tax profit decline in 2020 FY results

Conoil Plc reported a revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.

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  • Operating expenses during the year was N7.64 billion in 2020 compared to N9.68 billion in 2019. 20.9% YoY 
  • The company reported a profit after tax of N1.52 billion in 2020 compared to N1.97 billion in 2019. –22.97% cut YoY.  
  • It reported an earnings per share of 219 kobo in 2020 compared to 284 kobo earnings per share reported in 2019. 22.89% YoY. 
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  • The company share price of N20.85, up +0.72% YTD. 

See link to results here

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