Guinness Nigeria sees improved profitability in new growth phase

Guinness Nigeria Plc said it has entered a new phase of growth, underpinned by improved profitability and a significantly stronger balance sheet, as the brewer ramps up investment in its brands, manufacturing, and distribution.

The company gave the outlook during its H1 2026 Investors and Analysts Call on Tuesday. Girish Sharma, managing director, expressed confidence in the business’s resilience and its ability to deliver long-term value to shareholders despite a challenging operating environment.

The business delivered a strong performance for the six months ended 30 June 2026, reporting approximately N265 billion in revenue, while profit after tax grew 53 percent to N25.3 billion.

Net sales value increased by almost 12 percent, operating profit grew 15 percent, with gross profit and operating margins at approximately 37 percent and 16 percent, respectively.

The performance reflects the company’s continued focus on driving quality growth, while improving operational efficiency and strengthening its financial position.

A key highlight of the period was Guinness Nigeria’s significant progress in deleveraging and rebuilding its balance sheet. Shareholders’ equity increased from N43.3 billion to N64.2 billion, while net debt declined substantially from approximately N37 billion to about N19 billion.

Speaking during the call, Sharma said the company’s progress reflected a deliberate focus on building a stronger and more resilient business.

“We have made significant progress in strengthening our financial position while continuing to invest in the growth of the business,” he said. “The days of operating with a weak…