WEDNESDAY, 15 SEPTEMBER 2010 BY MOSES EBOSELE
The Board of Directors of Guinness Nigeria Plc has approved a dividend of 825 kobo per share, translating to N12.2 billion for the year ended June 30, 2010.The company explained yesterday that the N12.2 billion dividend, subject to shareholders’ approval, was an indication of sustainable growth despite various challenges.
According to Guinness, within the period under review, net sales increased by 23 per cent to N109 billion, while trading profit experienced five per cent growth to N20.8 billion.A press statement signed by Company Secretary/Legal Adviser, Sesan Sobowale and Communications Manager, Kingsley Uranta, “the board of Guinness Nigeria Plc is once again proud to report the continued strong performance of our brands with net sales growing by 23 per cent in the financial year.
“The growth was driven by our sterling performance in the Beer and Malt drink categories leading to this double digit increase in turnover and overall market share gains.“Our innovation agenda especially around canned drinks has also brought our brands to new consumers and into new occasions.
“While conscious of the continued challenges of the operating environment, including the liquidity squeeze affecting customers, suppliers and other key partners in the value chain, the board will continue to support our strong brand positions, focusing on widening our route to market and continue our marketing investments” said Guinness.
With a shareholder base of over 75,000 shareholders, Guinness was established in 1950, making it one of the oldest companies in Nigeria.Listed on the Nigerian Stock Exchange (NSE) in 1965, the company built its first brewery in Ikeja in 1962 and currently has facilities in Ogba, Benin City and Aba.