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Nigeria: Guinness Nigeria reports 82.2% revenue increase over six month to December 31
Guinness Nigeria Plc has announced its unaudited financial results for the six months ended 31 December 2024, showcasing impressive resilience and strategic growth in a challenging macro-economic environment, Brand Communicator reported on January 23.
The company reported an 82.2% revenue increase, growing from ₦142.60 billion in H1’24 to ₦259.60 billion in H1’25. This performance underscores the effectiveness of its revenue generation strategies and geographic expansion.
Despite inflationary pressures and rising costs, Guinness Nigeria demonstrated strong operational efficiency, recording a gross profit of ₦59.01 billion, a 28.4% increase compared to ₦45.94 billion in the prior period. However, operating profit declined to ₦11.26 billion from ₦16.40 billion in H1’24, reflecting the impact of higher cost of sales. Notably, the company narrowed its net loss significantly to ₦302.7 million in H1’25, a remarkable recovery from the ₦5.23 billion net loss recorded in H1’24.
Speaking on the results, the Board Chair, Dr. Omobola Johnson said: “These results highlight the strength of our strategy and our ability to adapt in an ever-evolving macroeconomic environment. While we faced significant headwinds, our team’s commitment and strategic initiatives enabled us to deliver substantial growth in revenue and a significant reduction in losses. We remain confident in our long-term vision to create sustainable value for all stakeholders.”
Managing Director, Girish Sharma, also commented: “Our H1’25 performance is a testament to our agility and determination to navigate economic challenges while focusing on long-term growth. The 82.2% revenue increase reflects the effectiveness of our portfolio and geographic expansion, and the effective execution of key strategic priorities. As we continue to navigate a dynamic market landscape, we are committed to delivering value through operational excellence, innovation, and deepened stakeholder engagement.”
Guinness Nigeria reinforced its commitment to excellence by driving operational efficiency, championing innovation, and maintaining a customer-centric approach. With a strong foundation and a bold, forward-looking strategy, the company is not just navigating current market challenges but setting the stage for transformative growth. As it continues to deliver value for stakeholders and strengthen its leadership in the FMCG sector, Guinness Nigeria remains a symbol of resilience and progress in the Nigerian business landscape.
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