Guinness Nigeria Plc has delivered a strong first-quarter performance for 2026, recording a sharp increase in profit after tax driven largely by reduced finance costs and stronger other income streams, despite only modest revenue growth.
The company reported profit after tax of ₦10.39 billion for the three months ended 31 March 2026, up from ₦7.03 billion in the same period of 2025, representing an increase of about 48%. Profit before tax also rose significantly to ₦15.75 billion from ₦10.28 billion year-on-year.
Revenue for the period grew modestly to ₦122.77 billion from ₦118.34 billion, supported by domestic demand for its core brands, including Guinness Foreign Extra Stout, Guinness Smooth, and Malta Guinness. Domestic sales accounted for ₦120.90 billion, while export sales contributed ₦1.88 billion.
Despite revenue growth, gross profit declined slightly to ₦43.48 billion from ₦44.52 billion, reflecting increased cost pressures. Operating profit also eased marginally to ₦17.18 billion from ₦17.99 billion.
The company’s stronger bottom line was driven by a combination of higher other income—largely from by-product sales—and improved finance income, including foreign exchange remeasurement gains. Finance costs fell sharply to ₦2.48 billion from ₦7.78 billion, significantly easing pressure on earnings.
Earnings per share rose to 474 kobo, compared to 321 kobo in Q1 2025. Total comprehensive income matched profit after tax at ₦10.39 billion, with no additional comprehensive income recorded.
On the balance sheet, total equity strengthened to ₦53.72 billion as at 31 March 2026, up from ₦43.32 billion at the end of 2025, supported by retained earnings. Total assets stood at ₦238.32 billion.
The company said the performance reflects sustained demand across its beverage portfolio and improved financial efficiency following reduced borrowing costs. Guinness Nigeria continues to operate on a going concern basis and reported no material post-quarter events.
