E-Malt.com News article: Nigeria: Guinness Nigeria reports 23% net sales growth for full year to June 30

Guinness Nigeria Plc’s board has approved the company’s audited results for the year ended 30 June 2010, Nigerian Compass communicated on September, 15.

Net sales of N109 billion increased by 23 per cent over the prior year while trading profit improved year on year by five per cent to N20.8 billion.

“The growth was driven by our sterling performance in the beer and malt drink categories leading to this double digit increase in turnover and overall market share gains,” the company said.

Marketing spend grew significantly during the year to strengthen brand equity and support the company’s premium brand positioning. Guinness Nigeria’s innovation agenda especially around canned drinks has also brought its brands to new consumers and into new occasions, the brewer reports.

The directors have recommended, subject to approval at the next annual general meeting (AGM), the declaration of a dividend in respect of the year ended 30 June 2010 of N12.2 billion that is, 825 Kobo per 50 kobo share.



17 September, 2010