{"id":10969,"date":"2026-10-22T09:32:15","date_gmt":"2026-10-22T09:32:15","guid":{"rendered":"https:\/\/ograsset.com\/?p=10969"},"modified":"2026-10-22T09:32:16","modified_gmt":"2026-10-22T09:32:16","slug":"guinness-nigerias-9m-2026-pre-tax-profit-rises-55-to-n61-65-billion-declares-interim-dividend","status":"publish","type":"post","link":"https:\/\/ograsset.com\/index.php\/2026\/10\/22\/guinness-nigerias-9m-2026-pre-tax-profit-rises-55-to-n61-65-billion-declares-interim-dividend\/","title":{"rendered":"Guinness Nigeria\u2019s 9M 2026 pre-tax profit rises 55% to N61.65 billion, declares interim dividend"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"975\" height=\"755\" src=\"https:\/\/ograsset.com\/wp-content\/uploads\/2026\/10\/image-42.png\" alt=\"\" class=\"wp-image-10970\" srcset=\"https:\/\/ograsset.com\/wp-content\/uploads\/2026\/10\/image-42.png 975w, https:\/\/ograsset.com\/wp-content\/uploads\/2026\/10\/image-42-300x232.png 300w, https:\/\/ograsset.com\/wp-content\/uploads\/2026\/10\/image-42-768x595.png 768w\" sizes=\"auto, (max-width: 975px) 100vw, 975px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Guinness Nigeria Plc has released its <a href=\"https:\/\/doclib.ngxgroup.com\/Financial_NewsDocs\/48113_GUINNESS_NIGERIA_PLC-_QUARTER_3_-_FINANCIAL_STATEMENT_FOR_2026_FINANCIAL_STATEMENTS_OCTOBER_2026.pdf\"><strong>unaudited third quarter (Q3) 2026 financial results<\/strong><\/a>, reporting a pre-tax profit of N61.65 billion for the nine months ended September 2026.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The results filed with the Nigerian Exchange (NGX) on Wednesday, October 21, represents a 55.34% year-on-year (YoY) increase from N39.69 billion in the same period of 2025.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The growth was supported by a 20.37% rise in revenue and a 61.88% drop in finance expenses, which allowed more operating earnings to flow through to the bottom line.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the third quarter of 2026, the company reported a pre-tax profit of N23.32 billion, a 46.99% increase from N15.86 billion in Q3 2025.Profit after tax for the quarter rose 52.67% YoY to N15.39 billion, contributing about 37.8% of the nine-month profit after tax.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The board has declared an interim dividend of N7.00 per share, about N15.33 billion in total, on October 21, 2026.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The qualification date is October 30, with payment on November 13, 2026.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">During the nine-month period, the company declared dividends of N19.71 billion and paid N19.27 billion.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Key Highlights (9M 2026 vs 9M 2025)<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Revenue: N403.33 billion (Up 20.37% YoY from N335.07 billion)<\/li>\n\n\n\n<li>Gross profit: N151.38 billion (Up 20.41% YoY from N125.72 billion)<\/li>\n\n\n\n<li>Operating profit: N64.98 billion (Up 23.45% YoY from N52.64 billion)<\/li>\n\n\n\n<li>Profit after tax: N40.69 billion (Up 53.05% YoY from N26.59 billion)<\/li>\n\n\n\n<li>Earnings per share (EPS): N18.58 (Up 53.05% YoY from N12.14)<\/li>\n\n\n\n<li>Total assets: N271.51 billion (Up 10.74% from N245.18 billion as at December 2025)<\/li>\n\n\n\n<li>Cash and cash equivalents: N1.40 billion (Down 79.95% from N6.97 billion as at December 2025)<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Three-month performance<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">The Q3 2026 was stronger than the nine-month run rate with revenue rising 41.01% year-on-year to N138.29 billion, while gross profit grew 48.35% to N53.91 billion, faster than sales.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Operating profit increased 42.34% to N23.46 billion.<\/li>\n\n\n\n<li>Finance expenses for the quarter fell 65.84% to N1.47 billion from N4.30 billion.<\/li>\n\n\n\n<li>Finance income, however, dropped 63.94% to N1.33 billion from N3.68 billion.<\/li>\n\n\n\n<li>Quarterly EPS stood at N7.03, up 52.83% from N4.60.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Driving the numbers:<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Domestic sales generated N397.04 billion, about 98% of revenue, and accounted for most of the N68.26 billion increase.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Export sales rose 23.85% to N6.29 billion.<\/li>\n\n\n\n<li>Cost of sales rose in line with revenue to N251.95 billion, leaving gross margin flat at 37.5%.<\/li>\n\n\n\n<li>Operating margin improved to 16.11% from 15.71%.<\/li>\n\n\n\n<li>Marketing and distribution expenses rose 18.38% to N62.91 billion.<\/li>\n\n\n\n<li>Administrative expenses increased 19.35% to N24.12 billion.<\/li>\n\n\n\n<li>Finance expenses fell to N5.83 billion from N15.30 billion, driven by a drop in interest on loans and borrowings to N5.61 billion from N14.66 billion.<\/li>\n\n\n\n<li>Finance costs absorbed about 9% of operating profit, compared with about 29% a year earlier.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Guinness repaid N90.29 billion in loans during the period against new borrowings of N83.28 billion, cutting total loans and borrowings by 13% to N38.21 billion. Short-term loans accounted for about 77.5% of the balance.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Balance sheet:<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Total assets rose to N271.51 billion, while shareholders\u2019 equity increased 48.42% to N64.30 billion.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Total liabilities edged up 2.65% to N207.20 billion.<\/li>\n\n\n\n<li>However, inventories jumped 43.27% to N65.65 billion, with finished goods rising 144.5% to N17.50 billion.<\/li>\n\n\n\n<li>Trade and other payables, at N134.50 billion, made up 72.8% of current liabilities.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Bank overdrafts rose to N2.80 billion from N523.54 million, leaving net cash negative at N1.41 billion.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Guinness Board reacts<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Commenting on the results, Prof. Fabian Ajogwu, SAN, Chairman of the Board, said:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em>\u201cThese results reflect the progress Guinness Nigeria is making in strengthening its financial performance and building a more resilient business.<\/em><\/li>\n\n\n\n<li><em>\u201cThe continued growth in revenue and profitability, alongside our disciplined approach to financial management, provides a solid foundation for the next phase of our journey. Our commitment remains to provide strong governance, support sustainable business growth and deliver enduring value to our shareholders.\u201d<\/em><\/li>\n\n\n\n<li>Girish Sharma, Managing Director and Chief Executive Officer of Guinness Nigeria Plc, added: <em>\u201cOur nine-month performance reflects the progress we are making in strengthening the business and improving profitability. Revenue growth, higher operating earnings and a significant reduction in finance costs have contributed to a stronger bottom line. While the operating environment remains dynamic, we remain focused on disciplined execution, operational efficiency and delivering sustainable value for our consumers, customers and shareholders.\u201d<\/em><\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Market reaction:<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">The market has not responded to the result yet as the result was released at the close of business on Wednesday, October 21, 2026.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The share price has traded flat at N423.00 per share since Monday, October 12.<\/li>\n\n\n\n<li>Guinness began the year with a share price of N349.90 and has since gained 20.9% on that price valuation, ranking it 69th on the NGX in terms of year-to-date performance.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">With 2.19 billion shares outstanding and a share price of N423 per share, the market capitalization stood at N927 billion as of October 21.<\/p>\n\n\n\n<figure class=\"wp-block-embed\"><div class=\"wp-block-embed__wrapper\">\nhttps:\/\/nairametrics.com\/2026\/10\/21\/guinness-nigerias-9m-2026-pre-tax-profit-rises-55-to-n61-65-billion-declares-interim-dividend\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Guinness Nigeria Plc has released its unaudited third quarter (Q3) 2026 financial results, reporting a pre-tax profit of N61.65 billion for the nine months ended September 2026. The results filed with the Nigerian Exchange (NGX) on Wednesday, October 21, represents a 55.34% year-on-year (YoY) increase from N39.69 billion in the same period of 2025. The&#8230; <\/p>\n<div class=\"clear\"><\/div>\n<p><a href=\"https:\/\/ograsset.com\/index.php\/2026\/10\/22\/guinness-nigerias-9m-2026-pre-tax-profit-rises-55-to-n61-65-billion-declares-interim-dividend\/\" class=\"excerpt-read-more\">Read More \u2192<\/a><\/p>\n","protected":false},"author":2,"featured_media":10970,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-10969","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fit-row"],"jetpack_featured_media_url":"https:\/\/ograsset.com\/wp-content\/uploads\/2026\/10\/image-42.png","_links":{"self":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts\/10969","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/comments?post=10969"}],"version-history":[{"count":2,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts\/10969\/revisions"}],"predecessor-version":[{"id":10972,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts\/10969\/revisions\/10972"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/media\/10970"}],"wp:attachment":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/media?parent=10969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/categories?post=10969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/tags?post=10969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}