GUINNESS Q2 Profit Down by 11%

GUINNESS Q2 Profit Down by 11%


Guinness Nigeria Plc has just released its second quarter (Q2) interim result to the floor of the Nigerian Stock Exchange. The company, declared a turnover of N53.842billion and a profit after tax of N7.183billion for the period ended 31st December, 2009. This show a growth of 23.82% in Turnover while the PAT declined by 10.87%.




The stock is currently trading at around N128.02.


NOTE: Guinness Nigeria Plc has invested significantly behind the brand portfolio to drive growth. In addition, there has been continued investment in capacity expansion. These investments combined with cost pressures have resulted in a year on year Profit after Tax decline for the half year.


(Source: Cordros Capital)


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