Guinness Nigeria, the nation’s leading consumer good company, today announced a turnover of N78 billion for the nine months ended 31st March 2014.
Speaking on the results, Seni Adetu, Managing Director/Chief Executive Officer said overall market trends are improving. "Market conditions for the period under review became slightly more favourable although we are coming from a cumulative weaker year to date performance and so there is still some way to go to be where we want to be."
"High finance costs in an increasing interest rate environment negatively impacted our overall profitability but in spite of this, we continue to invest in our brand portfolio and optimization of our market logistics. We expect that these and other initiatives will lead to improved revenues and overall performance," he stated.
Guinness Nigeria has over 60 years of history in the Nigerian market and has in its stables some of the most adored alcoholic beverage brands in the country, among which are Guinness Foreign Extra Stout, Harp Lager and Malta Guinness. The company had continued to introduce into the market exciting innovation brands with additions like Alvaro, an adult non-alcoholic soft drink and Orijin, a mix of alcohol and African herbs, to its portfolio.
Speaking on the results, Seni Adetu, Managing Director/Chief Executive Officer said overall market trends are improving. "Market conditions for the period under review became slightly more favourable although we are coming from a cumulative weaker year to date performance and so there is still some way to go to be where we want to be."
"High finance costs in an increasing interest rate environment negatively impacted our overall profitability but in spite of this, we continue to invest in our brand portfolio and optimization of our market logistics. We expect that these and other initiatives will lead to improved revenues and overall performance," he stated.
Guinness Nigeria has over 60 years of history in the Nigerian market and has in its stables some of the most adored alcoholic beverage brands in the country, among which are Guinness Foreign Extra Stout, Harp Lager and Malta Guinness. The company had continued to introduce into the market exciting innovation brands with additions like Alvaro, an adult non-alcoholic soft drink and Orijin, a mix of alcohol and African herbs, to its portfolio.
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