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.