Guinness Nigeria Boasts 50.83% Revenue Growth in Q2 2022.

On January 28, 2022, Guinness Nigeria released its second-quarter 2022 financial results, with key numbers as follow:

Key Numbers

Revenue grew from ₦72.35 billion to ₦109.12 billion, a 50.83% growth.

Profit before tax grew from ₦1.29 billion to ₦12.97 billion, a 903% growth.

Profit after tax stood at ₦8.8 billion.

The current share price stands at ₦48.10

Revenue Drivers

The 50.83% growth was driven primarily by the increase in Guinness, Malta Guinness and Spirit products, as well as the company’s strong (route to customer) framework and strong brand investments. The key product’s growth against its half-year 2021 numbers are as follows;

Brand Guinness grew by 33%.

Mainstream Spirit grew by 38%.

Premium Spirit grew by 59%.

Maltas grew by 149%.