Guinness Nigeria Plc (NGX: GUINNESS) has reported a NGN41.2bn ($30.7mn) net profit for its 18-month financial period, signalling a turnaround under its new majority owner, Singapore-based Tolaram.
In a filing to the Nigerian Exchange, Guinness Nigeria reported revenue for the 18-month period ended on December 31, 2025 surged 144% to NGN730.8bn ($543.8mn), compared with NGN299.5bn ($222.9mn) in the previous 12-month cycle. Gross profit rose 152% to NGN230.5bn ($171.5mn), while operating profit increased 251% to NGN89.3bn ($66.4mn), supported by pricing adjustments, productivity gains and tighter cost controls.
The brewer posted a net profit after tax of NGN41.2bn ($30.7mn), reversing a NGN54.7bn ($40.7mn) loss recorded in the prior financial year. The extended reporting period follows a change in the company’s financial year-end from June to December and represents the first full reporting cycle under Tolaram’s majority ownership.
Tolaram acquired a 58.02% stake in Guinness Nigeria from Diageo in late 2024, marking a significant shift in the company’s ownership structure. The latest results come amid persistent inflationary pressures and intense competition in Nigeria’s beverage market.
Management attributed the improved performance to stronger commercial execution and operational restructuring during the transition period. Chairman Professor Fabian Ajogwu described the outcome as evidence of disciplined leadership during what he called a pivotal phase for the company.
Under the current ownership structure, Tolaram controls the listed manufacturing entity, while Diageo retains ownership of the Guinness brand and related intellectual property through a long-term licensing agreement.
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