GUINNESS Nigeria Plc, in its unaudited financial results for the quarter ended September 30, 2024. has delivered a remarkable 111 percent year-on-year revenue growth, driven by innovative product offerings, enhanced consumer engagement, and effective expansion of its retail footprint.
The revenue increased from N59.5 billion in the same period last year to N125.9 billion, a testament to the strength of Guinness Nigeria’s diverse portfolio and its focus on building strong consumer connections.
Despite this top-line growth, the company faced significant cost pressures, primarily due to inflation and the continued depreciation of the Naira, which increased the cost of raw materials, packaging, and utilities.
Dr. Omobola Johnson, Chairman of the Board of Directors, while commenting on the results, said, “Our robust revenue performance reflects the resilience of our brands and the strength of our market presence. However, the difficult macroeconomic environment,…
