Guinness Nigeria Plc recorded a 53.1% increase in profit after tax to N40.69 billion for the nine months ended September 30, 2026, compared with N26.59 billion reported in the corresponding period of 2025.
The brewer disclosed the performance in its unaudited financial statements approved by the Board of Directors on October 21, 2026.
Revenue increased by 20.4% to N403.33 billion from N335.07 billion, representing an additional N68.26 billion in sales during the period.
Gross profit rose to N151.38 billion from N125.72 billion, indicating the increase in revenue. However, the company’s gross profit margin remained relatively stable at approximately 37.5%.
Operating profit increased by 23.4% to N64.98 billion from N52.64 billion, indicating improved earnings from the company’s core business activities.
Guinness Nigeria also benefited from a substantial reduction in finance expenses, which declined by 61.9% to N5.83 billion from N15.30 billion in the corresponding period of 2025.
Finance income increased to N2.51 billion from N2.35 billion, further supporting the company’s profitability.
Consequently, profit before tax climbed 55.3% to N61.65 billion from N39.69 billion, while earnings per share increased to N18.58 from N12.14.
The company’s third-quarter performance also showed strong growth with revenue rising 41% to N138.29 billion from N98.07 billion in the corresponding quarter of 2025.
Profit after tax for the July-to-September period increased by 52.7% to N15.39 billion from N10.08 billion.
Beyond earnings, Guinness Nigeria strengthened its balance sheet as total assets increased by 10.7% to N271.51 billion as of September 30, 2026, compared with N245.18 billion at the end of December 2025.
Shareholders’ equity rose to N64.30 billion from N43.32 billion, supported by an improvement in retained earnings from a deficit of N5.22 billion to a positive balance of N15.76 billion.
Total loans and borrowings, excluding bank overdrafts, declined to N38.21 billion from N43.92 billion.
However, cash and cash equivalents fell to N1.40 billion from N6.97 billion, while inventories increased by 43.3% to N65.65 billion.
The figures indicate that Guinness Nigeria recorded stronger profitability and improved shareholders’ equity during the period, although its declining cash balance and rising inventory levels remain important considerations for investors assessing the company’s financial position.
