Guinness Nigeria Plc has reported a revenue increase of 82.2 per cent for the six months ended December 31 2024.
The company’s revenue grew from N142.6bn in the first half of 2024 to N259.6bn.
In a statement made available to our correspondent on Saturday, the company stated that despite rising costs and inflationary pressures, it recorded a gross profit of N59.01bn, up 28.4 per cent from N45.94bn in the prior period.
However, operating profit declined by 31.3 per cent to N11.26bn from N16.4bn, due to increased cost of sales.
Notably, the company reduced its net loss by 94 per cent, narrowing it to N302.7m in H1’25, compared to a N5.23bn net loss recorded in H1’24.
Commenting on the results, the Board Chair of Guinness Nigeria Plc, Omobola Johnson, said, “These results highlight the strength of our strategy and our ability to adapt in an ever-evolving macroeconomic environment.