Daily Archives: September 1, 2019

Guinness Nigeria reports lower results for 2019 as slow lager, RTD sales and impact of excise duty drag down revenue and profits

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Guinness Nigeria Plc has reported declines in revenue and profit for the full-year ending on 30th June 2019.

The company blamed sluggish sales in the lager and ready-to-drink segment as well as the impact of the second wave of a new excise duty on alcohol and tobacco that went into effect in June 2018 for the lower results. Revenue declined by 8% to N131.5bn from N143bn in the previous year.