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   Market Date: 28-01-2015   
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Guinness to pay N6 dividend

Category: Corporate Earnings

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Guinness to pay N6 dividend

As from December 1, 2008, shareholders of Guinness Nigeria Plc, whose names are in the company‘s books as at October 31, 2008, will begin to enjoy the company‘s dividend payout of N8.849bn for the year ended June 30, 2008.

The amount translating into N6 per 50 kobo share, represents a 33 per cent increase over the N6.637bn paid to shareholders in the corresponding period of 2007.

The company recorded a turnover of N69.17bn for the year under focus, representing an 11 per cent increase over N62.27bn in 2007.

Its profit after tax also appreciated by 11 per cent from N10.69bn in 2007 to N11.86bn.

Speaking on the result, the Chairman of the company, Mr. Ralph Alabi, stated that the company had put in place various strategies to ensure that it sustained the growth it had been recording.

According to him, the company had made future plans that would boost its performance and increase its profitability in the coming years.

He said, ”Several projects aimed at increasing the capacities of our Lagos and Benin breweries have commenced. In addition, work is advanced on the project to connect our Benin operations to gas supply. All our brands are set to benefit from the growth in the can-packaged segment, which we pioneered in this industry in 2005.”

The chairman disclosed that the company‘s business had switched over to System, Application and Products software, an enterprise resource planning tool already in use in major markets of its parent company as well as in some of the biggest businesses in the world.

He noted that with the changes in place, the business are poised to experience a new drive, which would in turn, be reflected on its financial performance.

”I believe that the evidence of these investments in capacity and process will be more apparent in the immediate future,” he said.

Alabi reiterated the company‘s commitment to growing, developing and retaining its talent, as it has recognised that it is a major factor for its long-term success. - Punch

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