Guinness Nigeria records 31% revenue growth

Guinness Nigeria Plc has announced a 31 per cent year-on-year revenue growth for the financial year ended June 30, 2024. A statement by Guinness on Tuesday said the strong performance was more pronounced in the second half of the year, with revenue growth accelerating to 41 per cent, up from 20 per cent in the first half. It stated that the achievement was notable given the challenging macroeconomic environment, characterised by declining consumer disposable income due to all-time high inflation, currency devaluation, fuel subsidy removal, and food insecurity. The firm added that the revenue growth was driven by an optimised category mix, innovative offerings, and targeted price increases to offset rising costs. “Non-alcoholic malt, ready-to-serve beverages, and international premium categories demonstrated resilience, recording notable growth compared to the previous year. The company also intensified its trade and consumer engagement efforts through digital platforms, activations, and captivating brand visibility. Click here for more.