Proshare Logo
   Market Date: 28-01-2015   
Agriculture ARTS FINANCE All One Min News Archives Bonds Cap Mkt Sentiments Capital Market CASHLESS NIGERIA Commodities Corporate Earnings Daily & Weekly Market Updates Elections Enterpreneurship ETFs Forex Frauds & Scandals General Global Market Insurance Investors NewsBeat Islamic Finance Mergers & Aquisitions Money Market Mortgage Mutual Funds Nigeria Economy Oil Sector Opinions and Analysis Pensions People Personal Finance Politics Power Products & Services Professionals Property Public Offers Private Placements Regulators REITs Stock PICKS Taxation Telcos Travel & Tours Unlisted OTC MARKET World of Business

Guinness sustains profitability

Category: Investors NewsBeat

  Read (1648)
Guinness sustains profitability

Guinness Nigeria Plc has shown it resilience and ability to forge ahead as reflected by its results made available to the public last week.

The audited result of the multinational Diageo Drink Group for the year ended 30th June 2009 shows turnover of N89.148 billion, representing a growth by 29%, as against N69.173 billion in 2008.

Its profit after tax and exceptional items also stood at N13.541 billion in the year under review, compared with the N11.861 billion it realised in 2008.

Guinness is the second largest brewer in Nigeria. Its board of Directors had earlier recommended a dividend of N7.50 per share as it closed its register last Friday.

It had also fixed November 2, 2009 as its payment date.

Guinness owns majority of its shares with various leading brands such as Satzenbrau, Smirnoff ice and among others as it forges ahead in the diversification of its product base.

The company has a strong competitive advantage in the stock market, leveraging on the wide market of Guinness stout.

Its share price which closed at N136.50 per share on Friday, can be said to be one of the blue-chip stocks that has sustained NSE indices from falling below the region it has stayed for some months now, following the activities of the bears and global economic recession.

Although Guinness Nigeria Plc, which stood at N98.01 per share as at January 2, 2009, has not had a smooth ride, it has demonstrated a commitment to cross the N150 per share mark.

Its half-year result for the period ended December 31st 2008 had earlier shown modest growth in its performance.

Guinness turnover grew by 35% from N32.13 billion in 2007 to N43.48 billion.

Its profit after tax increased sharply by 52%, from N5.24 billion in the comparable period in 2007 to N8.06 billion in 2008.

Also, its earnings per share during the period stood at N3.55 which is similar to what was posted last financial year and this could be due to increased operating cost. However, earnings per share as at March 3rd 2009 was N9.95.

(Source:Business Hallmark)

Tags: , 

Comment With Your Facebook or Yahoo! ID

Latest news

News on Investors NewsBeat

About Us

Who We Are
Our Team & Partners
Corporate Governance
Advertise with Us
Subscribe / Unsubscribe
Site Map
News Feed - RSS
Contact Us
Volunteer Program
Message from CEO

News & Features
The Analyst / Market Data
Investor Relations Portal
The Regulator
Economy & Politics
Training Portal
Events Calendar
NewsStands - Online Reputation

Products and Services

Research & Market Intelligence
Analyst Services
Offers & Rights Support Service
Investor Relations Services
Alert & Subscription Services
Share Support Services
Proshare Consult
Event & Seminar Coverage
Market Directory
File a Complaint
News & Analysis

News from TheANALYST
Video News from WebTV
Money Market Updates
Opinions & Analysis
Nigerian Economy
Market Data
The Regulator
Discussion Forum

Subscriber Agreement
Privacy Policy
Data Policy
Copyright Policy
Comments in Site
Advertising Code
Conflict of Interest
Content Partnership
3rd Parties

Online Trading and Execution
Legal Support Services
Web/Technology Services
File a Complaint

CBN Governor 2014