guiness

Guinness Nigeria Plc announce ₦70bn net sales for 9 months

Guinness Nigeria Plc recently announced net revenue of ₦70bn for the 9 months period ended 31st March 2016.

The company’s Managing Director/Chief Executive Officer, Mr. Peter Ndegwa,
observed, “Third quarter sales were impacted by a tough operating
environment and the lapping of a very strong quarter in the previous year –
particularly with distribution gains for the Orijin brand. The economic
slowdown and rise in inflation continue to cause a shift towards lower
margin value products.

“However, we are starting to make progress in the broadening of our
portfolio and also seeing resilience in our core brands. We are also
focused on driving efficiency throughout our operations to address the
continuing pressure on margins. We anticipate that the year will be
challenging as we incur one-off costs to reshape our business and continue
to broaden our portfolio in order to drive future growth.”

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