Guinness Nigeria names Dr. Omobola Johnson as new Board Chair replacing retiring Mr. Babatunde Savage

NIGERIA – The Board of Guinness Nigeria Plc has announced the notice of retirement of its long-serving and indefatigable Board Chair, Mr. Babatunde Savage by June 30, 2021. After leading the board of Diageo’s Nigerian operating unit for over a decade, Mr. Savage will be replaced by the former Minister of Communication & Technology of Nigeria and Guinness Nigeria Board member, Dr. Omobola Johnson, who will assume the role of Board Chair with effect from 1st July 2021. Babatunde Savage was appointed Chair of the Board of Guinness Nigeria in…

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Bismarck Rewane resigns from Board of Guinness Nigeria Plc

NIGERIA – The Board of Guinness Nigeria Plc has announced the resignation of Mr Bismarck Jemide Rewane as a Non-Executive Director of the company which became effective on 31st December 2020. Mr. Rewane was appointed to the Board of Guinness Nigeria Plc as a Non-Executive Director in 2008 where he served as the Chairman of the Finance, Audit and Risk Committee of the Board. According to the subsidiary of Diageo, as of 30th June 2020, Mr Rewane owned 36,384 ordinary shares of the company worth N691,296. “The Board of Guinness…

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International Breweries loss shrink benefiting from cost reduction strategies

NIGERIA – Nigerian subsidiary of AB InBev, International Breweries Plc has reported a 1.53% revenue decline in the nine months ended September from the previous year’s N97.66 billion (US$256.1m) to N95.77 billion (US$251.2m). Despite the decline in revenue, the company registered a drop in both administrative and marketing expenses which led to the shrinking of its loss before tax. Loss before tax stood at US$46.4m, compared with US$62.95m of the corresponding period. During the period under review, the brewer’s administrative expenses amounted to N17.61 billion (US$46.2m), a 9.86% drop from…

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Nigerian beer manufacturers show solidarity with victims of recent violent protests

NIGERIA – The Beer Sectoral Group of the Manufacturers Association of Nigeria has condemned the violence that marred the peaceful protest around the country. “Over the past few days, we have all witnessed the sad events that have taken place in our beloved country Nigeria. What commenced as a peaceful movement was overrun and became marred by violence, resulting in loss of lives and property across our nation. “We, therefore, denounce the violence that has erupted across our nation and we want to lend a hand to support those rendered…

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Guinness Nigeria issues a revenue warning with earnings impacted by COVID-19 pandemic

NIGERIA – Guinness Nigeria Plc, a leading beverage and alcohol company in Nigeria and a subsidiary of Diageo Plc has issued a revenue warning ahead of the release of its full year audited financial result for the period ended 30th June. According to the brewer, the adverse impact of the sharp contraction in economic activities and the knock-on effect of the COVID-19 lockdown took a toll on the on-trade segment of its business across all markets with production and revenues been negatively affected. The brewer of Origin drink said it…

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Guinness Nigeria records increased revenue driven by mainstream beers & spirits

NIGERIA – Guinness Nigeria Plc, a leading beverage and alcohol company in Nigeria and a subsidiary of Diageo Plc, has announced its unaudited results for the first half year period ended December 31, 2019. The results, which were released to the Nigerian Stock Exchange (NSE), showed that revenue increased one per cent versus the prior comparable period as strong growth in the second fiscal quarter mitigated the decline from the first quarter. Growth was mainly driven by strong double-digit growth in brand Guinness and mainstream spirits. Together with growth in…

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Guinness Nigeria first quarter profit declines 59% amid economic challenges

NIGERIA – Guinness Nigeria Plc has recorded a 59% decline in operating profit in its first quarter results ending September driven by a drop-in revenue of 4% to N26.9bn (US$74m) from N28bn (US$77.2m) recorded in the same period in 2018. The breweries attributes the loss to a challenging macroeconomic environment, coupled with competition, unfavourable mix performance and excise duty increases on both beer and mainstream spirits. Commenting on the results, the company noted that “These top line performance factors, and especially the excise duty increases, impacted our Gross Profit. However,…

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Guinness Nigeria lays out strategy to bolster growth across categories

NIGERIA – Guinness Nigeria Plc has laid out its plans for its financial year which began in July to build on the company’s 2019 performance focusing on key strategies. The company seeks to grow value share and enhance its margins in beer occasions, international premium spirits and mainstream spirits reported Beverage Industry News. These strategies include innovating at scale to make new leads, building and constantly extending its route to consumer, driving out costs, invest in growth and guaranteeing its plan with the right people and capabilities. Recapping the company’s…

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Guinness Nigeria launches new Guinness Smooth Stout

NIGERIA – Guinness Nigeria Plc a subsidiary of Diageo Plc, has launched Guinness Smooth stout into the market, a new addition to its portfolio. Made from hops and roasted barley with a touch of local flavours, the company describes the drink as a blend of bitter and sweet taste. It has 5% ABV.  “Guinness Smooth is a perfect partner for spicy foods and BBQ. The smooth refreshing taste balances the spicy heat, while the distinctive characterful flavour ensures Guinness Smooth is a beer that doesn’t get overshadowed by the food.”…

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Guinness Nigeria launches ‘Baileys Delight’ to expand its product portfolio

NIGERIA – Guinness Nigeria Plc, a subsidiary of Diageo Plc, has launched the ‘Baileys Delight’ a new product to alcoholic beverage line up as it seeks to grow its product portfolio in the highly competitive market. The beverage producer described the new product as “a light and lush cream liquor which blends the luscious taste of African honey with real dairy cream, from the makers of Baileys Original Irish cream. Speaking on the launch, Adenike Adebola, Marketing Director, Guinness Nigeria, said “We are so excited to introduce a light and…

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