Earnings Flash: Guinness Nigeria Plc Declares N 2.25 Net Income

Guinness Nigeria Plc declared its Q1, 2012 results on the floor of the Stock Exchange today.

The brewery company that produces Foreign Extra Stout, Extra Smooth, Harp, Malta Guinness, Gordon’s Spark, Smirnoff Ice and Satzenbrau reported a marginal uptick in revenue over the period.

Gross Earnings were up 5.5% to N 25.7 Billion from N 24.4 Billion over Q1, 2010 or the same period last year.
Profit before Tax took a slight hit as the metric fell 1.8% to N 3.3 Billion from N 3.4 Billion at the end of Q1, 2010.

Net Income fell 2.7% as the company posted N 2.25 Billion against N 2.3 Billion recorded at the same period last year.

The company recently announced production expansion projects at its base in Ogba, an industrial suburb of Lagos, and also on Benin.

We expect these projects to impact company performance positively over the short-to-mid-term.

The company’s share price is currently trading at N 210, an improvement of 10% from the onset of the year and outperforming the All Share Index.

One Comment

1. 

   Ambrose

   December 7, 2011 at 4:58 pm

   Companies with good products and strong earnings will always outdo the market at any time. Investors should wise up and invest intelligently.