E-Malt.com News article: Nigeria: Guinness has no plans of leaving Nigeria - management

The management of Guinness Nigeria Plc has revealed that the company has no plans of leaving Nigeria, contrary to some inaccurate reports making rounds on some social media platforms, the Nairametrics reported on March 10.

This is coming at a time manufacturers are complaining of a tough operating environment amid the rising cost of goods and services and the energy crisis.

According to NAN, the clarification was made known by the Corporate Communications Manager, Guinness Nigeria Plc, Mrs Ayodele Alabi, during an interview on March 10 in Lagos.

While dismissing reports that Guinness wants to relocate its operations to Ghana, Alabi pointed out that its plant in Ghana had been in operation since 1960.

He said, “There is Guinness Ghana and it’s not that we are just trying to expand operations to Ghana or anything like that as it’s been there since forever, ten years after the Nigerian operations began.

“The information of our relocation is false and we cannot trace where the misinformation is coming from. We cannot just be moving our operations when we had established Ghana in 1960 while Nigeria office was established in 1950.’’

The Managing Director, Guinness Nigeria Plc, Mr Baker Magunda, in a statement, restated the company’s commitment to remaining in the country and delivering value to its stakeholders and consumers.

He maintained that the rumour making rounds was at variance with the company’s current expansion and drive.

Magunda noted that the company had recently reaffirmed its long term strategic expansion plans by acquiring a 25acres commercial property in a choice location in Lagos.

He said that the company’s financial performance for half year of 2021 showed its operating profits grew by 266% to N13.6 billion.

He said, “We urge our employees, stakeholders and members of the public to ignore this false, malicious and misleading publication as it never emanated from our management.

“Guinness Nigeria has confidence in the Nigerian economy and just as we have done for the past seventy one years, we would remain a major player in the country by continually investing, developing capabilities, and growing brands that most suits the consumers’ needs and contributing positively to lives, communities and the environment.’’

In its recently released financial statement, Guinness Nigeria Plc, Nigeria’s second-largest brewery, appears to have recorded impressive results, signifying that good times are back again.

The impressive result despite rising costs was said to be driven by resilient consumer demand and improved outlet coverage, as well as benefitting from headline price increases in key brands.

Revenue grew across all key categories driven by our strategic focus brands, Malta Guinness and Guinness, as well as double-digit growth in local and imported spirits and the ready-to-drink category.


11 March, 2022