Prime Business AfricaGuinness Nigeria has revealed that it recorded N118.33 billion revenue for the quarter ended March 31, 2025, compared to N77.70 billion turnover reported in the same period last year, indicating an increase of 52.28 percent.
The company’s cost of sales also increased by twofold or 31.84 percent year-on-year, from N55.98 billion to N73.81 billion.
Join our WhatsApp ChannelDue to revenue outgrowing the cost of sales, Guinness’ gross profit increased by 104.98 percent to N44.52 billion at the end of the quarter ended March 2025, surpassing the N21.72 billion recorded between the period ended March 2024.
However, other income decreased by 94.69 percent year-on-year to N29.23 million, from N551.17 million, but despite the decline, the company recorded a 209.12 percent increase in operating profit, which climbed from N5.82 billion to N17.99 billion within the same period.
Furthermore, Guinness managed to reduce its finance expenses by 63.79 percent to N24.01 billion during the review period, from N66.32 billion recorded at the end of the quarter ended March 31, 2024.
The company’s bottom line also benefited from a 263.35 percent increase in finance income, which grew to N16.29 billion during the period ended March 2025, from N4.48 billion during the corresponding period in 2024.
As a result, Guinness was able to exit the N56.02 billion loss before tax recorded in Q3 2024, as the company posted N10.27 billion profit before tax during the same period this year.
After exiting the loss of last year’s period, the brewer saw its income tax increase by 723.41 percent to N3.25 billion in the third quarter of 2025, compared to the N394.95 million tax filed in Q3 2024.
Following the deduction of income tax, Guinness reported a N7.02 billion profit after tax (PAT) during the period under review, against the N56.41 billion loss after tax reported in Q3 2024.
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