Guinness declares N5b dividend, plans new products
Category: Corporate Earnings
November 30, 2006/guardian
With an after tax profit of N7.44 billion in the year ended June 30, 2006, over N4.9 billion excess over last year\'s, Guinness Nigeria Plc has declared a dividend of N5 billion over N3.5 billion last year.
The performance was on a turnover, which rose from N46.9 billion to N53.7 billion. Profit retained in the business rose from N1.3 billion to N2.72 billion, while shareholders\' fund rose from N18.23 billion to N20.95 billion.
Earnings per share rose from N412 kobo to 631 kobo, while dividend per share rose from 300 kobo to 400 kobo. Net worth per share rose from N1,545 kobo to 1,775 kobo, while share price at year-end rose from 8,700 kobo to 10,890 kobo.
Reviewing the company\'s performance at the yearly general meeting held in Abuja recently, the chairman, Chief Raphael Alabi told shareholders that the company gained tremendous market share through the institutions of some world class products, some of which would still be introduced.
Alabi said: \"I am delighted to inform you that in spite of the challenges of the operating environment, our company recorded an impressive result in the year under review.
\"With a repertoire of great brands with world class pedigree and increased attention to consistently high quality in the production process, our company succeeded in gaining market share for all the brand in the year under review. This is largely responsible for the commendation results placed before you at this annual general meeting.\"
Our turnover of N53.6 billion and profit after tax of N7.4 billion represent a growth of 14.5 per cent and 53.12 per cent respectively over the same period last year.
Impressed by the performance and returns of investment, shareholders unanimously approved the results at the meeting, while urging the board to do more to sustain the performance.
Projecting into the future, Alabi promised shareholders that the performance would be enhanced through the introduction of new production that will meet international standards. His words: On our part, we shall continue to be proactive in our management of the company by investing wisely in those projects that will bring the maximum returns to our shareholders, supporting our brands and launching even more exciting and world-class brands of the highest quality and ensuring that we add value to our human capital.\"