Guinness Nigeria reports N41.2 billion profit as sales more than double

Tolaram-backed Guinness Nigeria booked N41.2 billion in post-tax profit for the eighteen-month ended December 2025, its audited corporate results issued on Tuesday showed, supported by a jumbo increase in revenue.

Join the Premium Times WhatsApp Community For Quick Access To News and Happenings Around You.

Open in WhatsApp

The result comes as a succour from the dismal performance of the 2024 accounting year, when earnings turned red after a blow from a hefty FX loss as the naira, its reporting currency, battled headwinds from a major devaluation early in the year.

The brewer has shifted its financial year-end to December from June, opting for an eighteen-month reporting period, which terminated last December to mark the start of that switch, rather than the twelve-month cycle ending in June, which it had run for years.

Turnover for the beer manufacturer went up by 144 per cent to N730.1 billion, compared to full year 2024, when it posted a net loss of N54.8 billion, and Singapore-based conglomerate Tolaram purchased a 58 per cent controlling interest, previously held by Diageo, for $70 million.

The broad ramifications of that loss forced the shareholder fund of Guinness Nigeria to tumble 96.2 per cent to N2.2 billion after it absorbed as much as N46.4 billion in negative retained earnings. The trend has now changed for better, with equity climbing up sharply to N43.3 billion at the end of the period under review.

READ ALSO: EPL: Guinness hosts epic live football screening for fans in Abuja (PHOTOS)

Diageo, the British multinational owner of Guinness’ global operations, said in June 2024 after offloading its stake that it would retain the brand’s ownership in Nigeria, while licensing it to Tolaram on a long-term basis.

Local sales remain the brewer’s largest market, with a 98 per cent contribution to the revenue pool in 2025, even though exports saw a jump in value terms, rising to N13 billion from N3.6 billion.

Stay Ahead with Premium Times

Add as a preferred source on Google

A dramatic cut in finance costs from N101.6 billion to N26.3 billion also boosted earnings.

Profit before tax stood at N68.4 billion, compared to a pre-tax loss of N54.8 billion in the twelve months to June 2024, while profit after tax came to N41.2 billion in contrast to a loss after tax of N54.8 billion eighteen months earlier.