Thursday, 16 May 2013

Guinness Nigeria records N95 billion revenue

GUINNESS Nigeria Plc, has recorded N95billion sales in the nine months ended March 31, 2013.
The results were indicative of a strong portfolio of consumer brands holding their markets whilst gaining significant share growth in a declining overall beer and malt market.

Commenting on the results, Seni Adetu, Managing Director/Chief Executive Officer, Guinness Nigeria Plc, said the strong performance of key brands like Guinness Foreign Extra Stout, Harp Lager and Malta Guinness, and the positive contributions from strategic innovations were major drivers of growth in net sales.

“Key brands continue to leverage their strong equities and connections with consumer passion points across premium and value segments to drive growth in net sales. This has also translated into significant market share growth for the brands in our portfolio as we extend our footprint in the market,” Adetu stated.

Guinness Nigeria Plc, part of the Diageo Group of companies, listed on the Nigerian Stock Exchange in 1965, and with a shareholder base of over 75,000 shareholders, is one of the foremost quoted companies in Nigeria. In 2010, the company announced an investment of N52 billion in its Nigeria business with the intention of expanding its production and route to market infrastructure. The company confirmed that the first phase of the expansion project has been completed with the commissioning of a first of its kind brewing technology in 2012. This investment looks set to increase Guinness Nigeria’s’ stake in the beverage market with a substantial increase in production capacity and increased consumer access to Guinness brands.

Commenting on the state of the beverage market in Nigeria, Adetu observed that the business is upbeat about the future despite a continuing decline in the beer and malt market. “We know that the beer market in Nigeria is undergoing a general decline but we are confident that there will be a reversal in this trend going forward. The critical thing for the management and board of Guinness Nigeria Plc is the confidence we have that our range of leading brands, our continued focus on distribution and our investment in our brands and people will deliver long term growth for the business.”

Source: Guardian

No comments:

Post a Comment