Ajogwu: Guinness Nigeria to Fortify Market Position for Stakeholders’ Benefits

Kayode Tokede  

The Chairman, Guinness Nigeria Plc, Prof. Fabian Ajogwu, yesterday said the multinational company  under the new leadership is poised to fortify its market positioning and operating efficiency for growth , with positive benefits to  all stakeholders .

Tolaram became majority shareholder of Guinness Nigeria effective from October 12, 2024 and it  has increased its shareholding from 58.02 per  cent to 70.86 per  cent. 

Speaking at the company’s 75th Annual General Meeting (AGM) in Lagos, he expressed that  there have been changes in the leadership of the company and the company has succeeded in retaining most of its staff -including some in leadership roles.

“During the transition, we also welcomed some new members to the Board of Directors who bring a wealth of experience to the board. 

“Transitions of this nature are often complex and disruptive in nature but I am pleased to report that Guinness Nigeria seamlessly transitioned to the new majority shareholder and leadership team. As you have seen in our recent quarterly performance reports, Guinness   Nigeria’s performance continued to improve during the year,” he said. 

According to him, the company continued the source of its majority of ingredients locally (like Sorghum), reducing reliance on imports and supporting local agriculture through partnerships with farmers and banks, aligning with Nigeria’s industrial policy and implementing strategies to enhance productivity , control costs and improve financial   performance despite high inflation and currency volatility.   

The company had reported a 144 per cent increase in revenue to N730.80 billion for an 18-month financial period, following a change in its financial year-end from June 2024 to December 2025.

Ajogwu explained that the adjustment resulted in the financials covering performance from July 2024 to December 2025.

“During the period, the company’s sales grew to N730.80 billion, marking a 144 per cent increase from N299.5 billion recorded in the previous period. This growth was driven by an optimised product mix, new innovations and carefully implemented price adjustments to offset inflationary and cost pressures,” he said.

He added that all product categories recorded resilient performance, with strong growth in Ready-to-Drink beverages.

According to him, gross margins rose by 152 per cent due to improved cost management and better pricing strategies, while operating margins increased by 251 per cent, supported by strict cost control and optimised marketing investments.

The company posted a profit of N41.16 billion for the 18-month period ended December 2025, a significant recovery from the loss of N54.77 billion recorded in the corresponding 12-month period of 2024.

Profit from operating activities rose to N89.27 billion from N25.41 billion in 2024, reflecting improved operational efficiency. Similarly, profit before tax stood at N68.39 billion, compared with a loss of N73.68 billion in the previous year. After accounting for an income tax expense of N27.23 billion, net profit stood at N41.16 billion.

Meanwhile, shareholders approved the appointment of Mr Mayank Kabra as Executive Director, alongside Mrs Bola Adesola and Mrs Olusola Oworu as Non-Executive Directors.

In separate remarks, stakeholders commended the company’s board composition and performance.

Chairperson of the Highly Favoured Shareholders Association of Nigeria, Adetutu Shiyanbola lauded the firm for maintaining gender balance on its board.

Also, National Coordinator of the Independent Shareholders Association of Nigeria, Sunny Nwosu urged the company to prioritise the welfare of elderly shareholders beyond dividend payments.