Guinness Nigeria PLC has delivered a strong turnaround in its first-quarter 2026 results, posting a 48 per cent surge in profit after tax to ₦10.39 billion and returning to positive retained earnings for the first time in recent periods.
The company reported earnings per share (EPS) of 474 kobo for the three months ended 31 March 2026, up sharply from 321 kobo in the corresponding quarter of 2025. Revenue grew 3.7% to ₦122.77 billion, driven mainly by robust domestic sales of ₦120.90 billion, while export sales contributed ₦1.88 billion.
Gross profit stood at ₦43.48 billion, with operating profit at ₦17.18 billion. Profit before tax rose 53 per cent to ₦15.75 billion, benefiting from significantly lower finance costs of ₦2.48 billion compared to ₦7.78 billion in the prior period. Income tax expense was ₦5.35 billion.
On the balance sheet, total equity strengthened to ₦53.72 billion as at 31 March 2026 (from ₦43.32 billion at 31 December 2025), with retained earnings swinging from a deficit of ₦5.22 billion to a positive ₦5.17 billion – a clear sign that Guinness Nigeria has turned the corner after years of challenging macroeconomic conditions.
Non-current assets rose to ₦138.48 billion, supported by continued investment in property, plant and equipment. Current liabilities decreased, though the company maintained prudent cash management with cash and cash equivalents at ₦1.63 billion.
Commenting on the results, the Board highlighted the resilience of the company’s core brands and disciplined cost management amid ongoing cost pressures. The Q1 performance marks a solid start to the 2026 financial year following the shift to a January–December reporting cycle.
Guinness Nigeria PLC remains focused on delivering sustainable growth, innovation in its portfolio, and value creation for shareholders in Nigeria’s competitive beverage market.
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