Tag Archives: Guiness

Economic crisis: Guinness profit down by 83%

Economic crisis: Guinness profit down by 83%

Guinness Nigeria Plc says its nine-month profit has fallen by 83 percent from N5.2 billion in March 2015 to N864 million in March 2016. Nigeria’s second-largest brewer also experienced a revenue drop of 18 percent from N84.75 billion to N69.6 billion. Just after the announcement of the three-quarter results, Guinness Nigeria shares fell by N1.84

Guiness Nigeria resolves dispute with NAFDAC

Guinness Nigeria Plc has confirmed the resolution of its dispute with the National Agency for Food and Drug Administration and Control (NAFDAC). NAFDAC had imposed the fine on Guinness for allegedly re-validating expired raw materials without approval, maintaining poor documentation and failure to comply with some of its regulations. The disagreement began in November 2015