Kayode Tokedé
With a significant increase in profits and a decrease in financial costs, Guinness Nigeria Plc announced one of its most productive effects in many years to sign the management of the commercial area and purchasing force of customers in Nigeria.
Audited monetary statements for the full year ended June 30, 2022 showed an increase of approximately 29% in revenue to N206. 82 billion, to N160 420 million in 2021.
The breakdown of earnings showed a 28. 9% increase in Nigeria’s earnings to N204. 87 billion from N158. 95 billion in 2021, while export earnings particularly increased by 33% to N1. 95 billion from N1. 47 billion in 2021.
The company’s maximum volume and price expansion in the 2022 part due to the strong accumulation in post-covid demand in its Guinness, Malta, RTD, Main Stream Spirit (MSS), among others.
In 2022, Guinness’ profits increased by 23% to N69. 5 billion from N56. 58 billion in 2021, while Malta’s profits rose 74% to N60. 72 billion in 2022 from N34. 97 billion in 2021.
In addition, SSM revenue increased by 34% to N32. 7 billion in 2022 from N24. 39 billion in 2021, while IPS increased 19% to N13. 82 billion in 2022 from N11. 57 billion in 2021.
the cost of sales
According to the profit and loss figures, the sales charge increased by 17% to NIRA 134. 16 billion in 2022, compared to NAF 114. 71 billion in 2021, to position gross profit at NAIRA 72. 66 billion in 2022, a cumulative of 59%. of N45. 71 billion reported in 2021.
To mitigate the impact of the hostile environment, the company said it took ambitious and planned value increases, sustained stakeholder engagement and continued investment in the network’s impact.
The company benefited from the profit from the disposal of properties, plants and appliances, which increased by 502. 9% to N1,690 million in 2022 from N280. 9 million in 2021 and the sale of intermediate products which increased by 73% to N665. 09 million in 2022 from N385. 48 million in 2021 to report N2. 74 billion in non-essential advertising profits in 2022 from N1. 03 billion reported in 2021.
As a result, overhead operating expenses increased by 40. 3% to NAIRA 51. 06 billion in 2022, compared to NA 36. 38 billion in 2021.
The increase in overhead operating expenses is due to a 43% increase in marketing and distribution expenses to NAIRA 37. 34 billion in 2022 and a 33% increase in administrative expenses from NAIRA 10. 32 billion in 2021 to NAIRA 13. 71 BILLION in 2022. .
While monetary revenue increased 259% to N1. 9 billion in 2022 from N529. 16 million in 2021, currency tariffs fell 54% to N2. 13 billion in 2022 from N4. 63 billion in 2021, as the loss of control in the revaluation of foreign currency balances fell to N1. 16 billion in 2022 from N2. 53 billion reported in 2021.
In total, Guinness Nigeria closed fiscal year 2022 with a pre-tax profit of N23. 67 billion, a build-up of 310% from N5. 77 billion in 2021. With an accumulation of around 77. 7% in tax expenditures to N8. 02 billion, profit after tax reached N15. 65 billion in 2022, as reported through the multinational.
The accumulation of profits allowed Control to praise shareholders with a dividend payment of 46 kobo in 2022, totaling N1. 01 billion in 2,190,382,819 shares of 50 kobo each.
Guinness Nigeria shares in 2022 have had a positive streak since the beginning of the year. The NGX-listed brewery and the maximum capitalized brewery of the moment after Nigerian breweries gained 132. 05% in price, from N39. 00 to N90. 50 as of July 29, 2022, transferring the effects of the year ended June 30, 2022 to the realization of an investment.
The company benefited from the interest acquisition, which boosted the market capitalization from N112. 8 billion to N198. 23 billion at the close of trading on July 30, 2022, from the initial figure of N85. 4 billion at the beginning of trading. January 4.
Utility supported through assets under development.
Guinness Nigeria increased its overall assets by 27% to N215. 66 billion in 2022, up from N169. 41 billion in 2022, after an accumulation in tangible constant assets to N97. 69 billion in 2022 from N94. 24 billion in 2021.
In addition, the accumulation of inventories to N32 billion in 2022 from N21. 46 billion in 2021 and money and money equivalents that increased up to 93% to N69. 1 billion in 2022 from N35. 9 billion in 2021 played a pivotal role in boosting overall assets in 2022.
However, overall equity increased through 21. 12% to N89. 98 billion in 2022 from N74. 3 billion, with retained earnings reaching N41. 44 billion in 2022 from N25. 74 billion in 2021.
While Guinness Nigeria reported a 1. 8% decrease in general non-current liabilities to N11. 95 billion in 2022 from N12. 16 billion in 2021, total current liabilities closed 2022 at N113. 73 billion from N71. 83 billion reported in 2021.
The functionality of Guinness Nigeria in 2022 revealed the business expansion and development of the strength to gain market share. The functionality showed that the multinational planned to sell its shares in Nigeria as part of its developing strategic business expansion.
Growing up in Nigeria
Management, while reacting to what it described as “a false, malicious and misleading post on some social media platforms, falsely claiming that Guinness Nigeria is moving out of Nigeria and plans to sell its lkeja Brewery site.
Fake news had claimed that the sale of the lkeja site was part of an exit plan, and this lie is being spread irresponsibly through other faceless people claiming to be genuine real estate agents.
Specifically, the company stated that “Guinness Nigeria has no intention of leaving Nigeria, unlike the orchestrated fake publication that is going around. We are strong, solid and provide value to our stakeholders. “
“We would also like to make it clear that the malicious post is not in tandem with our existing investment and expansion campaign, as we recently reaffirmed our plans for a long-term strategic expansion in Nigeria with the acquisition of an additional 25-acre listing. assets in Lagos’ Ogba Industrial Zone recently purchased due in 2021. “
“Contrary to false data from critics, we renewed our efforts to serve our respected consumers and create more job opportunities for Nigerians, as shown through the new $5 million additional production line recently commissioned at our brewery in Ogba, Lagos, in October. 2021.
The company had opened its new headquarters, an elegant area designed to echo the company’s project: “celebrate life, every day, everywhere”, in Ogba, Lagos.
During the ceremony, Guinness Nigeria board chair Dr. Omobola Johnson said the new headquarters will create an environment where all workers and other stakeholders feel included and can do their best.
“We recognize the wishes of our employees, especially after working remotely for so long. So we created a modern, agile workspace designed for maximum connectivity, collaboration and online connection to new global work,” Johnson said.
Managing Director Baker Magunda that the initiative reaffirms the company’s commitment to pursuing its long-term business goals in the country.
“This restores Guinness Nigeria as a forward-thinking organization. We remain committed to developing the ability to grow our brands and optimize functionality to meet the desires of our consumers while creating the right environment for all stakeholders to thrive.
“This movement represents a significant change, not only in the way we work, but also in the way we work, allowing us to break boundaries, be more connected and be more progressive. For us, this represents “long-term work. ” We have created an environment where all our employees feel included, our culture of diversity and inclusion is strengthened, and our workers are empowered to maximize their full potential through effective collaborations, creativity, and enhanced connections within the corporate and price chain.
Guinness Nigeria in August 2021 had announced its goal of expanding its operations and production in Lagos in the coming months.
The country’s largest beverage company has completed the acquisition of 25 acres of advertising assets in the Ogba industrial zone in Lagos.
Guinness Nigeria Plc MANAGING DIRECTOR Baker Magunda reaffirms the company’s overall strategy and expansion plans, describing them as a mirror image of its religion in the Nigerian economy and its continued commitment to the country’s development.
He said: “This ambitious acquisition is accompanied by an ambitious investment plan to expand our production capacity and operations in Nigeria. We remain true to our commitment to Nigeria’s expansion and progress as we edit our long-term shareholder price. It is also a component of our strategy to optimize our production assets and therefore increased operational power leading to a higher price for our shareholders. “
He added: “At the end of this phase of our expansion, we will develop our ability to meet the growing demand for our products while creating more opportunities for Nigerians, in addition to the more than 180,000 jobs we have lately created directly and indirectly in our value chain. “
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