Guinness Nigeria's Profits Rise by 53% to ₦40.7 Billion

Guinness Nigeria has reported a 53.1 percent increase in profits for the nine months leading to September compared to the same period last year. This comes from the latest unaudited report of the alcoholic beverage company.

Profit after tax reached ₦40.7 billion, rising from ₦26.6 billion last year. The profit for the third quarter made up 37.8 percent, which is ₦15.4 billion of the total profit, contributing significantly to revenue.

Nigeria remains the biggest market for the company, accounting for over 98 percent or ₦397 billion of total sales. Exports brought in ₦6.3 billion.

Total revenue increased to ₦403.3 billion from ₦335.1 billion, while gross profit rose by 20.4 percent.

Ownership and Investment

Guinness Nigeria is mostly owned by Tolaram Group, based in Singapore. This group is the main developer and major investor in Nigeria’s Lekki Deep Sea Port. Tolaram took a controlling stake of 58 percent in Guinness Nigeria from Diageo in 2024.

Diageo, the British company that owns Guinness worldwide, said it will keep the brand's ownership in Nigeria. This is even after it licensed Tolaram for long-term management.

Operating profit saw a 23.4 percent increase, reaching ₦65 billion. Finance costs dropped by 71.9 percent to ₦4.3 billion. This reduction was due to the company cutting down on finance expenses related to loans and borrowings. This eased pressure on pre-tax profits and helped boost earnings.

Total assets grew to ₦271.5 billion from ₦245.2 billion. This growth was boosted by an increase in inventories and property, plant, and equipment.

Dividend Payments

In April, Guinness Nigeria started paying dividends again after a four-year break caused by losses. They announced an interim dividend of ₦2.00 per share for the first quarter of the year.

On Wednesday, the company announced an interim dividend of ₦7.00 per share for the third quarter of the year. This is expected to be a total payout of ₦15.3 billion.

Shareholders “whose names appear in the Register of Members as at the close of business on Friday, 30 October 2026,” are eligible to receive this cash distribution, according to the company. Payment is set for 13 November.