Guinness Nigeria Plc has bounced back into profitability, posting a profit after tax of N6.72 billion for the nine months ended March 31, 2025. This is a major turnaround for the company, which recorded a loss of N61.65 billion during the same period in 2024.
The information was revealed in the company’s unaudited financial report recently sent to the Nigerian Exchange Limited. According to the report, Guinness Nigeria’s revenue rose by 71.5 per cent, moving from N220.30 billion in the previous year to N377.94 billion in the current period.
The jump in revenue was mainly due to a strong performance in local sales. Domestic sales accounted for N373.88 billion of the total revenue, while export sales brought in N4.06 billion. This shows that more than 98 per cent of Guinness Nigeria’s business is coming from within the country.
Despite a sharp increase in the cost of sales, the company was still able to grow its profits. Cost of sales rose by 79.8 per cent from N152.64 billion to N274.41 billion. Still, Guinness recorded a gross profit of N103.53 billion, which is a 53 per cent increase from the N67.66 billion posted last year.
Meanwhile, the company’s spending also increased in other areas. Administrative expenses went up to N23.95 billion, compared to N13.24 billion in the previous year. Marketing and distribution expenses also increased significantly, from N35.27 billion in 2024 to N50.52 billion in 2025.
Finance expenses also jumped to N95.13 billion. This rise was mainly due to foreign exchange losses as a result of remeasuring foreign currency balances. However, the company recorded a major gain in finance income, rising from N7.54 billion in the previous year to N80.26 billion. This income came from foreign exchange revaluation gains during the period.
Guinness Nigeria ended the nine months with a profit before tax of N14.39 billion. This is a big improvement compared to the pre-tax loss of N60.46 billion recorded in the same period of 2024. After accounting for a tax payment of N7.66 billion, the company’s net profit stood at N6.72 billion.
Earnings per share also moved into positive territory. It stood at 307 kobo, compared to a loss of 2,815 kobo per share recorded last year. This reflects the improved performance and return to profitability.
Guinness Nigeria’s total assets also grew. As of March 31, 2025, the company’s total assets stood at N285.63 billion, up from N226.13 billion in June 2024. The increase in assets was due to stronger inventory and receivables positions, according to the company.
The company’s management, led by Managing Director and CEO, Mr. Adebayo Alli, said the performance shows the strength of Guinness Nigeria’s presence in the local market. With over 98 per cent of revenue generated within Nigeria, the company believes it is well-positioned to keep growing.
The report did not mention any plans for dividend payments, but investors may watch future announcements as the company continues to recover from last year’s heavy losses.
