Guinness Nigeria, recovers loss position as PAT peaks @ N5.bn
Guinness Nigeria has demonstrated commitment to reward investors for their loyalty with improved performance expected to close its current financial year on positive note, and open first quarter on hyper performance level.
This was revealed in the company’s fourth quarter result for the period ended 30th June 2017, released by the Nigerian Stock Exchange (NSE), showed that PBT grew to N5.1bn from a pre-tax loss of –N3.6billion that the company delivered in Q4 2016.
The report showed that the strong recovery on the PBT was spurred by a combination of factors, including an 11 per cent y/y expansion in sales, a gross margin expansion of 910bps to 44.8 per cent, a 5 per cent y/y reduction in operating expenses (Opex) and an 80 per cent y/y decline in net interest expense.
The Guinness Nigeria Q4 2017 result further showed that PAT grew to N4.5billion from an after-tax loss of –N2.9billon in Q4 2016.
The result showed that, sequentially, sales grew by 19 per cent q/q. PBT and PAT grew significantly by higher margins of 133 per cent q/q and 112 per cent q/q respectively.
