Guinness Nigeria to pay N4.82 billion dividend to shareholders

 Emmanuel Thomas, Lagos

September 5, 2015 – Guinness Nigeria Plc today announced its full year results for the period ended 30th June 2015, reporting a 9% increase in net sales during the year.

The results reflect strong volume growth on the back of year-on-year impressive performance of its innovation and value brands.

Commenting on the results, the Company’s Managing Director/Chief Executive Officer, Mr. Peter Ndegwa observed, “We delivered a 9% increase in net sales during the year in a tough trading environment largely driven by the growth in our RTD category and value beer segment. Our gross profit also grew by 9%. During the year, we continued to invest significantly behind our brands and our route to consumer expansion and these, together with the high interest environment, have driven a profit before tax decline of 8%”, he said.

The Board of Directors of the Company has also recommended, subject to approval at the next Annual General Meeting, slated to hold on 26^th November 2015, the declaration of dividend of approximately N4.82 billion in respect of the year ended 30 June 2015, that is, 320 kobo per 50 kobo ordinary share. The dividend recommended, if approved at the Annual General Meeting will be paid to shareholders on 27th November 2015.

On his part, Mr. Babatunde Savage, Chairman of the Board of Directors of the Company stated, “The current economic environment is challenging for all companies but we look forward to an improvement in the operating environment and are positioned to take advantage of improving consumer confidence that may occur as a result”.