Guinness Earnings Top N126 billion, Declares N8 Dividend
Guinness Nigeria released its 2012 audited financial statements today, reporting a revenue of N126.28 billion, up 2.1% from the N126.33 billion it made in 2010.
The company reported a 14.2% increase in advertisement and promotion expenditure at N11.2 billion, from N9.8 billion in 2010.
Distribution expenses also experienced an uptick, increasing by 19% to N13.4 billion, from N11.33 billion in 2010.
Profit Before Tax fell by a steep 20% to N21.1 billion, from N26.2 billion over the previous financial year.
Profit after tax fell by 18.2%, as the company reported a net income of N14.6 billion, down from N17.9 billion in the previous financial year.
The company’s board has approved an N8 dividend, payable on November 2nd. Alteernatively shareholders have the option to receive a scrip issue of 1 for every 33 shares held at the above as at 5th October 2012, in place of dividend.
The company’s Annual General Meeting is to be held on the 2nd of November at the Transcorp Hilton.