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

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.