Guinness Nigeria Plc has reported a profit after tax of N6.72bn for the nine months ended March 31, 2025, marking a rebound from the loss of N61.65bn posted in the same period of 2024.

The company’s unaudited financial statements, released to the Nigerian Exchange Limited recently, showed the company’s revenue surge by 71.5 per cent to N377.94bn from N220.30bn in the prior period, bolstered largely by a rise in domestic sales, which contributed N373.88bn, and export sales worth N4.06bn.

Cost of sales increased by 79.8 per cent to N274.41bn from N152.64bn. Despite the higher costs, Guinness Nigeria recorded a gross profit of N103.53bn, up 53 per cent from N67.66bn in the previous year.

Administrative expenses rose to N23.95bn from N13.24bn, while marketing and distribution expenses jumped to N50.52bn compared to N35.27bn recorded in 2024.

Finance expenses also rose to N95.13bn, mainly impacted by foreign exchange losses on remeasurement of foreign currency balances. However, the company benefited from a finance income of N80.26bn, compared to N7.54bn in the previous year, reflecting gains from foreign currency revaluations.

Profit before tax stood at N14.39bn as against a pre-tax loss of N60.46bn in the corresponding period of 2024. After accounting for a tax charge of N7.66bn, Guinness Nigeria posted a net profit of N6.72bn for the period.

Earnings per share stood at 307 Kobo in contrast to a loss per share of 2,815 Kobo recorded in the prior period.

Total assets grew to N285.63bn as of March 31, 2025, compared to N226.13bn as of June 2024, reflecting stronger inventory and receivables positions.

The company’s management noted that over 98 per cent of its revenue was generated locally, highlighting its strong presence in the Nigerian market.

The PUNCH reported that Guinness Nigeria Plc has reported a revenue increase of 82.2 per cent for the six months ended December 31, 2024.