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Guinness, Unilever Record Revenue Growth amidst Challenging Macroeconomic Environment

Raheem Akingbolu
Guinness Nigeria Plc, has announced its unaudited financial results for the six months ended 31 December 2024, showcasing impressive resilience and strategic growth in a challenging macroeconomic environment. According to the report, the company recorded an 82.2 per cent revenue increase, growing from N142.60 billion in H1’24 to N259.60 billion in H1’25. This performance reflects the success of its revenue generation strategies and expanded geographic footprint.
In a related development, Unilever Nigeria Plc, has released its unaudited interim report for the 12 months period ended 31st December 2024. In the report, the company recorded turnover of N149.8 billion in the period under review which represents 44 per cent topline growth compared to N103.9 billion Turnover recorded in the corresponding period in 2023.
Despite inflationary pressures and rising costs, Guinness Nigeria delivered a gross profit of N59.01 billion, marking a 28.4% increase from N45.94 billion in the prior period. While operating profit declined to N11.26 billion from N16.40 billion in H1’24 due to higher costs, the company achieved a remarkable recovery, reducing its net loss to N302.7 million in H1’25 compared to N5.23 billion in H1’24.
The company has also reaffirmed its commitment to maintaining its listed status on the Nigerian Exchange Limited (NGX). The company has no intention of delisting and remains focused on delivering value to its esteemed shareholders.
Commenting on the results, Board Chair, Dr. Omobola Johnson, stated: “These results highlight the strength of our strategy and our ability to adapt in an ever-evolving macroeconomic environment. While we faced significant headwinds, our team’s commitment and strategic initiatives enabled us to deliver substantial growth in revenue and a significant reduction in losses. We remain confident in our long-term vision to create sustainable value for all stakeholders.”
Managing Director, Girish Sharma, added: “Our H1’25 performance is a testament to our agility and determination to navigate economic challenges while focusing on long-term growth. The 82.2% revenue increase reflects the effectiveness of our portfolio and geographic expansion, and the efficient execution of key strategic priorities. As we continue to navigate a dynamic market landscape, we are committed to delivering value through operational excellence, innovation, and deepened stakeholder engagement.”
Meanwhile the breakdown of the Unilever analysis shows that the company recorded a gross profit of N55.7 billion for the period ended 31st December 2024 which is 75% increase versus N31.9 billion reported for the same period 2023.
The result for the total business shows a net profit of N15.9 billion for the period ended 31st December 2024 compared to a net profit for the corresponding period in 2023 of N8.4bILLIOn which is 88% improvement in current year versus 2023.
Speaking on the results, the Managing Director, Tobi Adeniyi, said, “our year-on-year sustained growth trajectory is a testament to our commitment of serving consumers with our best brands to meet their daily needs of improved health and hygiene.”