Guinness Nigeria
Half Year Net Sales
Guinness Nigeria Releases Interim results, Reports Half Year Net Sales of N53billion
Tuesday, February 18, 2014Omoba
Guinness Nigeria Plc.,
Nigeria’s foremost consumer goods company today released its interim results
for the period ended 31 December 2013. The results showed a turnover of N53
billion for the company for the period under review even as the company results
appeared to be impacted by continuing softness of the beer market.
Speaking to the
results, Mr. Seni Adetu, Managing Director/Chief Executive Officer, Guinness
Nigeria Plc said continuing decline in discretionary income amongst other
factors, have continued to affect the performance of the business in the year
under review. “Our performance for the period ended 31st December 2013 has been
impacted by the contraction of the beer market for most of the half and the
shift towards the value segment mainly due to affordability and discretionary
income trends.”
He continued,
“Contributions from strategic innovations have remained strong, as we continue
to invest in our sales organisation to drive increased distribution and to
support long term growth. Our marketing investments behind our brands also
continued as we launched a new campaign for Guinness FES and Harp.”
Mr Babatunde Savage,
Chairman, Guinness Nigeria Plc, said that the Board continues to support the
management in its efforts to continue to grow the business and deliver shareholder
value.
“We will continue to
manage our cost base tightly to deliver moderate operating margins improvement.
The Board is confident that our focus on our strategic priorities will return
the business back to growth and improved profitability.”
Guinness Nigeria was
established in 1962 and was the first country to have a Guinness brewery built
outside of the British Isles. Nigeria now represents the largest market for
Guinness by Net Sales Value in the world. Products from the brewer’s stables include
Guinness Foreign Extra Stout, Harp Lager Beer and Malta Guinness.
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