Tag Archives: Guinness Nigeria Plc

Guinness Nigeria commissions seven new boreholes in Cross River State to commemorate World Water Day

In furtherance of its continued commitment to interventions that transform lives and improve the health and well-being of communities in Nigeria, Guinness Nigeria Plc has constructed seven hand pump water boreholes in Bebi Community, Obanliku Local Government Area (LGA) of Cross River State.

Guinness Nigeria seeks NSE approval for share sale

Guinness Nigeria Plc, said on Wednesday it had sought approval from the Nigerian Stock Exchange (NSE) for a new share sale which it hopes would raise N39.77bn ($130m).

The company which has posted back-to-back losses in the last three quarters said it would issue the shares to existing shareholders at N58 per share, which represents a 17% discount on Wednesday’s closing of N70 per share. Existing shareholders would be offered five new shares for every 11 held as of Wednesday closing.

Guinness Nigeria donates Optical Equipment to Lagos Eye Hospital

Guinness Nigeria Plc, has donated a pair of slit lamps to the management of the Lagos University Teaching Hospital (LUTH), as part of its effort to boost healthcare in the country.

Slit lamps are the most frequently used and most universally applicable examination instrument in ophthalmology. Its field of application include the examination of the anterior segment of the eye including the crystalline lens and the anterior vitreous body, observation of the posterior segments and the iridocorneal angle that are not visible in the direct optical path, as well as measuring intraocular pressure.

Pharma Deko seeks liquidation of Guinness Nigeria over debt claims

Pharma Deko Plc, a pharmaceutical company has filed a petition at the Federal High Court in Lagos seeking liquidation of Guinness Nigeria Plc as an ongoing business concern over alleged ₦176m debt claim.

The petition, which is before Justice Hadizat Rabiu-Shagari would be heard on 28 March, 2017.

Guinness Nigeria refutes Pharma Deko’s debt claims

Guinness Nigeria Plc, in a statement released to the media on Friday said it had responded to a court process initiated by Pharma Deko Plc, a pharmaceutical company, which alleges that the brewer owes it N176m representing an arbitral court award made against the company and in favour of Pharma Deko. The suit also suggests that Guinness Nigeria is unable to pay the debt.

Guinness Nigeria releases 2016 Sustainability Report; Outlines future goals

Guinness Nigeria Plc, on Wednesday released its 2016 Sustainability Report, which provides information on the company’s performance on various aspects of its operations and sets out its sustainability goals for the future.

FX losses dampen Guinness Nigeria’s revenue growth

Guinness Nigeria Plc, reported its first-half results (6-months) on Thursday, for the period ending 31 December 2016.

The brewer of Foreign Extra Stout, Malta Guinness, among others posted a strong 19% revenue growth in the period under review to N59bn, from N50bn it recorded in the same period a year ago.

However, the company’s strong first-half showing was dampened by unrealized foreign exchange losses which drove up net finance cost by 166% to N4.6bn, from N1.2bn in the previous year. The resultant effect was a net loss of N4.67bn. In the same period a year ago, Guinness Nigeria posted a positive N1.2bn in profit.

Guinness Nigeria seeks N40bn rights issue to pay down debts

Guinness Nigeria Plc said it plans to hold an Extraordinary General Meeting (EGM) of its shareholders in Lagos on January 24th 2017 to approve resolutions for a N40bn rights issue.

According to a statement released by the company, it believes the rights issue will allow it optimize its balance sheet, while improving its financial and operational flexibility.

Guinness Nigeria, FRSC flag-off Responsible Drinking Campaign

Guinness Nigeria Plc and the Federal Roads Safety Corps (FRSC) have kicked-off their annual ember months ‘Responsible Drinking Campaign’, counseling consumers against drink driving.

Fourth Quarter will be just as tough for Nigerian Consumer Firms – Analysts

Some of Nigeria’s biggest companies suffered losses in the third quarter as the naira continued to depreciate against major world currencies and with inflation spiking to 18.3% as of October, amid a drop in consumer spending and foreign currency scarcity.