Despite aggressive marketing and advertising strategies in 2019, International Breweries Plc reported a drop in revenue and a loss.
Guinness Nigeria Plc has identified an increase in excise duties as the main reason for the drop in its operating profit.
Guinness Nigeria Plc released its H1 2020 financial report announcing 0.8% y/y increase in Revenue to N68.3bn in H1 2020 from N67.8bn in H1 2019.
Guinness Nigeria Plc, PZ Cussons, AG Leventis, UBA and Access Bank were the top five gainers on the stock market today.
Shareholders of Guinness Nigeria Plc today approved the N3.32 billion declared by the Company at its 69th Annual General Meeting held in Abuja.
Guinness in its Q1 2020 financial report announced a 4.3% y/y decline in revenue to N26.9 billion in Q1 2020 from N28.1 billion in Q1 2019.
Nigerian Breweries Plc, International Breweries, and Champion Breweries have decried the N35.8 billion spent as excise duties in the country, calling the Federal Government to slash the rate.
Top brewer, Guinness Nigeria Plc, has released its interim unaudited financial report for the three months period ended September 31st, 2019.
Rights issue has dominated quoted companies' capital raise between 2016 and 2019. This is according to data obtained from the SEC.
Rencap indicates Guinness Nigeria Plc remains a major top pick in the brewery segment of the Nigerian Stock Exchange.