Guinness Nigeria Plc (NGX: GUINNESS) said sharper operational efficiency, decentralised decision-making and broader market reach helped lift first-quarter 2026 profit by 48% year-on-year, positioning the brewer for sustained double-digit growth despite pressure on consumer spending, CNBC Africa has reported.
Managing Director and CEO Girish Sharma said the company’s restructuring efforts over the past year had begun to yield results after Guinness Nigeria reported profit after tax of NGN10.39bn ($7.61mn) in Q1, while revenue rose 4% year-on-year to NGN122.77bn ($89.96mn).
The brewer also posted stronger earnings per share and lower net finance costs, reflecting tighter cost management and improved capital efficiency. Its board approved an interim dividend of NGN2.00 per share, amounting to about NGN4.38bn ($3.21mn).
The results place Guinness Nigeria among a limited number of consumer goods companies in Nigeria still maintaining profitability and shareholder returns amid persistent inflation, foreign exchange volatility and weaker household purchasing power.
Speaking to CNBC Africa, Sharma said the company had become “far more efficient” after pushing more operational authority into its Nigerian business.
“We grew distribution, we’ve become far more efficient today, and we were able to make our people more agile because we brought decision-making down to Nigeria,” he said.
Sharma said the company was unlikely to maintain the pace of its recent 144% revenue expansion but added that management still expected double-digit growth going forward.
According to Sharma, Guinness Nigeria’s turnaround strategy rests on four pillars, beginning with organisational culture and employee empowerment. The second pillar focuses on operational excellence through localisation, while the third centres on consumer-led innovation and refining products to match changing preferences.
The company is also adapting its product mix to reflect cost-of-living pressures by introducing more affordable formats and pack sizes. Sharma cited the launch of Orijin Beer in PET packaging as part of efforts to respond to shifting consumer demand.
He added that Guinness Nigeria sees growth opportunities across ready-to-drink beverages, mainstream spirits, beer and malt drinks as consumer tastes continue to evolve.
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