Tayo Busayo, Abuja – Guinness Nigeria Plc, has declared N15.6bllion dividend on a Profit After Tax (PAT) of N15.7billion for the financial year ended June 30, 2022. The PAT grew by 1147% from N1.26billion in corresponding period in previous year.
The Company’s revenue for the year under review grew by 29% to N206.8 billion from N160billion.
Shareholders at the hybrid Annual General Meeting (AGM) of the Company held in Lagos approved the sum at N7.14k per share dividend.
According to the Chairman of the Board of Directors, Dr.Omobola Johnson, commitment to the company’s expansion strategy and improved operational efficiency has helped to sustain the growth.
She stated: “Despite the difficult business environment, Guinness Nigeria has consistently worked to remain competitive. We will work at maintaining the remarkable trajectory that we have now because we value the confidence and trust that our distinguished shareholders have placed in us.”
Managing Director, Baker Magunda, also expressed confidence that the company will continue to brace up on its path of sustained profitability.
“This performance showed that the business will continue to deliver growth despite the challenging environment characterized by high inflation and logistics bottlenecks in the country. We will continue to leverage local opportunities and create value and empowerment through our backward integration programme that is currently benefiting hundreds of people across the country” Baker said.