Business Guinness Nigeria Records N53 Billion Turnover in Six Months

Vunderkind

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Guinness Nigeria Plc has recorded a N53 billion turnover for the half year period which ended on the 31st of December, 2013. The company profits appear to be negatively impacted by the continuing softness of the beer market.

Performance indicators show that Guinness Nigeria’s profit declined for the first-half by 22% as consumer spending slumped.

Guinness Nigeria’s CEO, Seni Adetu, in a Monday conference said, “"Our performance for the period ended 31st December 2013 has been impacted by the contraction of the beer market for most of the half and the shift towards the value segment mainly due to affordability and discretionary income trends. Contributions from strategic innovations have remained strong, as we continue to invest in our sales organization to drive increased distribution and to support long term growth. Our marketing investments behind our brands also continued as we launched a new campaign for Guinness FES and Harp."

Related: Guinness Nigeria's First-Half Profit Declines 22% Due to Nigerians' Weak Spending
 

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