FOLLOWING the approval of the shareholders at the 68th Annual General Meeting of Guinness Nigeria, in Abuja, on Wednesday, the company has declared a dividend of N4.03 billion.Chairman, Board of Directors of Guinness, Mr Babatunde Savage, who announced this, said the dividends translated to a payout of 184 kobo gross per share to the shareholders, noting that the company had again demonstrated business resilience.
According to him, the 2018 financial year showed impressive growth as it recorded a 31 per cent improvement in operating profit from N10.2 billion to N13.4 billion. Revenue increased by 14 per cent from N125.92 billion in June 2017 to N142.98 billion, while Profit After Tax (PAT), improved significantly by 249 per cent to N6.7 billion for the year ended June 30, 2018, compared to N1.9 billion reported for the year ended June 30, 2017.
He affirmed that the company’s performance for the year 2018 ended in June showed impressive growth and resilience, with its commitment to grant shareholders returns on their investments.
“Although, the challenges in the operating environment are yet to ease, the execution of our strategy is working well as we delivered both top line growth and margin expansion while also increasing investment behind our brands. Looking forward, we will continue to focus on the three strategic pillars of productivity, expansion of our portfolio, as well as the execution of the commercial footprint initiatives to drive the business forward,” he added.
The Board chairman said the economy would continue to improve as the company was determined to ensure sustained and steady growth in the company’s operations to achieve improved returns on investments.
“As a company, we will continue to appreciate the unwavering commitment of all our stakeholders, shareholders, dynamic employees, loyal consumers, dedicated suppliers and other business partners for their unflinching support through these times. We look forward to a better 2019 for our brands and our great company which you are all an important part of,” He declared.
Also speaking, the Managing Director/Chief Executive Officer (CEO) of the company, Baker Magunda told the gathering that the company remains committed to driving returns on investment to shareholders in line with its strategy.
He said it remains firm on its commitment to continually invest in the business to secure a sustainable future for the stakeholders.
“Guinness Nigeria is a company with a strong and diversified portfolio and remains in leading positions in many of the fastest growing categories in the beverage industry. To ensure continued long-term growth, we are investing in key categories and actively managing the portfolio to ensure we stay ahead of consumer trends.
Our consumers remain at the heart of everything we do to drive growth, ensuring it benefits both our shareholders and society,” He affirmed.
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