The Chairman of the Board of Directors of Guinness Nigeria Plc, Dr Omobola Johnson, has stated that the firm would continue to prioritise innovation and customer satisfaction.
She disclosed this at the brewer’s 2023 Annual General Meeting held in Lagos recently.
She said, “Within the period under review, Guinness Nigeria proactively realigned and repositioned itself to effectively adapt to the changing landscape of the FMCG sector in Nigeria. We continue to place a premium on the constant delivery of quality products to our consumers in relentless pursuit of our aim to be one of the best performing, most respected consumer products companies in Nigeria.”
She emphasised the company’s strong focus on innovation and consumer satisfaction, identifying them as key drivers of its success.
She noted that as Nigeria’s foremost total beverage alcohol company, innovation played a central role in its operations.
According to Johnson, the company remains committed to continuously evolving to meet consumer needs while preserving the legacy of its iconic brands.
That approach, she explained, had enabled Guinness Nigeria to maintain its market leadership, with a firm intent to build on that legacy in the years ahead.
Meanwhile, the brewer recorded a N12.16bn loss in the three months ending September 2024 compared to a gain of N2.59bn in the same period of 2023.
This was disclosed in its unaudited results filed with the Nigerian Exchange Limited.
According to the results, a 111.44 per cent increase in the revenue of the brewer to N125.89bn was negatively impacted by high marketing and distribution expenses (N13.30bn) and finance expenses, which rose to N11.61bn from N4.62bn as of September 2023.
The total assets of the company, which rose to N246.01bn from N226.16bn as of the same period in 2023, failed to outweigh the total liabilities, which were N256.02bn.
On September 30, Diageo announced that it had completed the sale of its shareholding in Guinness Nigeria Plc to Tolaram.
The sale was first announced on 11 June 2024.
Guinness Nigeria will continue the production and nationwide distribution of Guinness and its other locally manufactured brands in Nigeria under a licence and royalty agreement reflecting Diageo’s efficient and flexible beer operating model.
The Managing Director of Guinness Nigeria, Girish Sharma, echoed those sentiments, outlining the company’s strategic direction following the acquisition by Tolaram Group.
“Guinness Nigeria is one of the country’s leading companies, and while we have faced challenges such as currency volatility, we are taking decisive steps to address them. My three key priorities are restoring profitability, improving production efficiency, and building a strong, empowered team,” he noted.
Sharma emphasised the importance of financial performance and sustainable growth: “Our goal is to ensure every bottle we produce is more profitable and efficiently made. By empowering our teams, I am confident we will drive sustainable growth.”
He also highlighted the company’s resilience, saying, “Despite macroeconomic challenges like inflation and FX volatility, Guinness Nigeria continues to deliver strong results through operational efficiency, innovation, and sustainability. Our transition under the new ownership presents exciting growth opportunities, including local sourcing initiatives that will drive both revenue and job creation.
“As we embark on this new chapter, we remain committed to sustainable practices, strong governance, and community engagement. These values, along with our innovative strategies, will position us for even greater success.”
