Higher sales lift Guinness Nigeria’s nine-month profit 53% to ₦40.7 billion

Guinness Nigeria reported a 53.1 per cent boost in bottom line for the nine months to September, relative to the same period of last year, according to the latest unaudited report of the alcoholic beverage manufacturer.

Profit after tax stood at ₦40.7 billion, up from ₦26.6 billion a year ago, as third-quarter profit accounted for 37.8 per cent or ₦15.4 billion of the earnings posted in the period, contributing more than one third of revenue.

Nigeria remains the company’s primary market as it was responsible for more than 98 per cent or ₦397 billion of sales, while exports contributed ₦6.3 billion.

Revenue climbed to N403.3 billion from ₦335.1 billion, while gross profit was up by 20.4 per cent.

Guinness Nigeria is majority-owned by Singapore-based Tolaram Group, the lead developer and major equity investor in Nigeria’s deepest sea port, the Lekki Deep Sea Port, which acquired a controlling stake of 58 per cent in the company from Diageo in 2024.

Diageo, the British multinational owner of Guinness’ global operations, said after divesting its stake that it is sticking to the brand’s ownership in Nigeria even though it has been licensed to Tolaram on a long-term basis.

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Operating profit rose 23.4 per cent to ₦65 billion. Finance costs fell 71.9 per cent to ₦4.3 billion after the company sharply cut back finance expense on loans and borrowings, easing the pressure on pre-tax profit, in turn boosting earnings.

Total assets advanced to ₦271.5 billion from ₦245.2 billion, lifted by a jump in inventories and property, plant & equipment.

In April, Guinness Nigeria resumed dividend payments after a four-year pause, triggered by loss-making, and announced an interim dividend per share of N₦2.00 for the first quarter of the year.

In a corporate announcement on Wednesday, the company declared an interim dividend of ₦7.00 per share for the third quarter of the year, equivalent to a potential payout of ₦15.3 billion.

Shareholders, “whose names appear in the Register of Members as at the close of business on Friday, 30 October 2026,” are eligible for the cash distribution, the company said. Payment is scheduled for 13 November, it added.