Guinness shareholders approve 184 kobo dividend

Shareholders of Guinness Nigeria Plc. has approved a dividend payout of 184 kobo per share totalling N4.03 billion at the company’s 68th Annual General Meeting  held recently in Abuja.

The 2018 financial year showed impressive growth as it recorded a 31 per cent improvement in operating profit from N10.2 billion to N13.4 billion.

Revenue increased by 14 per cent from N125.92 billion in June 2017 to N142.98 billion, while Profit After Tax (PAT) improved significantly by 249 per cent to N6.7 billion for the year ended 30th June 2018 compared to N1.9 billion reported for the year ended 30th June, 2017.

Addressing shareholders at the AGM, the Chairman of the Board of Directors, Mr. Babatunde Savage said that Guinness Nigeria Plc. has again demonstrated business resilience. He asserted that the company’s performance shows its commitment to grant shareholders returns on their investments.

“The Company’s performance for the year ended 30 June, 2018 shows impressive growth and resilience.

“Although the challenges in the operating environment are yet to ease, the execution of our strategy is working well as we delivered both top line growth and margin expansion while also increasing investment behind our brands.

“Looking forward, we will continue to focus on the three strategic pillars of productivity, expansion of our portfolio, as well as the execution of the commercial footprint initiatives to drive the business forward.”

Savage said that “as the economy continues to improve, Guinness Nigeria Plc. is determined to ensure sustained and steady growth in the company’s operations to achieve improved returns on investments.

“As a company, we will continue to appreciate the unwavering commitment of all our stakeholders; shareholders, dynamic employees, loyal consumers, dedicated suppliers and other business partners for their unflinching support through these times. We look forward to a better 2019 for our brands and our great company which you are all an important part of.”

The company’s Managing Director/CEO, Baker Magunda, said, “in line with our strategy, Guinness Nigeria remains committed to driving returns on investment to shareholders.

“We also remain resolute on our commitment to continuously invest in our business to secure a sustainable future for our stakeholders.

“Guinness Nigeria is a company with strong and diversified portfolio and remains in leading positions in many of the fastest growing categories in the beverage industry.

“To ensure continued long-term growth, we are investing in key categories and actively managing the portfolio to ensure we stay ahead of consumer trends.

“Our consumers remain at the heart of everything we do to drive growth, ensuring it benefits both our shareholders and society”.