Guinness Nigeria Rules Out Delisting From NGX

…Says Focus Is on Growth

Guinness Nigeria Plc has ruled out plans to delist from the Nigerian Exchange (NGX), saying the company will remain publicly listed as it focuses on strengthening its balance sheet, investing in capacity and delivering returns to shareholders.

The Managing Director and Chief Executive Officer of Guinness Nigeria, Girish Sharma, disclosed this at the company’s investors and analysts meeting, where he also highlighted the brewer’s improved financial position, stronger profitability and continued investment in its operations.

Sharma said the company had no plans to take Guinness Nigeria private or alter its status as a publicly listed company, maintaining that the position remained consistent with the response he had given to similar questions in previous investor engagements.

“At this point in time, there are no plans to take the company private or re-list it. We will continue to remain a publicly listed company for now,” he said.

The clarification comes as Guinness Nigeria continues to strengthen its balance sheet following significant financial pressures in previous periods.

According to Sharma, the company’s first-half performance demonstrated that the period of a relatively weak balance sheet was behind the business, with management now focused on simultaneously driving growth, improving efficiency and delivering value to shareholders.

He said the company had grown net sales value by almost 12 per cent in the first half of the year, while operating profit increased by 15 per cent and profit after tax rose by more than 50 per cent compared with the corresponding period.

“It has therefore been a strong first half,” Sharma said, adding that the company had continued to invest significantly…