Guinness Nigeria Plc 9M’19/20 results – Earnings plunge on revenue and finance cost pressures

Must Read

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is...
- Advertisement -
Guinness Nigeria Plc (GUINNESS) announced a 97.2% YoY plunge in its Q3’19/20 results (January 2020 to March 2020), following material contraction in revenue and an over five-fold YoY surge in finance cost.
Highlights
  • Revenue declined by 17.6% YoY in the review quarter, with inflows from export sales notably plunging by c.78.6% YoY over the last three quarters. The company also saw a reversal of revenue gains from H1’19/20 (June 2019 to December 2019), with 9M’19/20 result revealing a 5.3% YoY decline in sales
  • In line with the result of an industry giant (NB), GUINNESS also reported growth in marketing and distribution expense (+9.5% YoY) in Q3’19/20 to highlight high promotional intensity in the sector. However, the cumulative expense on this front failed to translate to revenue growth in the review quarter
  • Finance cost surged by over five-fold YoY to N1.7 billion in the review quarter, likely reflecting foreign currency losses on the company’s dollar obligation (c.$23.0 million intercompany loans as at June 2019)
  • Despite pressures across P&L line items, the company managed to improve operating cash flow by 20.4% YoY over 9M’19/20 through better working capital management of receivables and payables.
Read Also:  International Breweries Plc - A Fish In Troubled Waters

Guinness Nigeria Plc 9M'19/20 results - Earnings plunge on revenue and finance cost pressures - Brand Spur

- Advertisement -
Guinness Nigeria Plc 9M'19/20 results - Earnings plunge on revenue and finance cost pressures - Brand SpurGuinness Nigeria Plc 9M'19/20 results - Earnings plunge on revenue and finance cost pressures - Brand Spur

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Read Also:  Guinness Nigeria Plc 9M’20 – Another Weak Quarter
Guinness Nigeria Plc 9M'19/20 results - Earnings plunge on revenue and finance cost pressures - Brand SpurGuinness Nigeria Plc 9M'19/20 results - Earnings plunge on revenue and finance cost pressures - Brand Spur

Latest News

New F5 Research Reveals 75 Percent of Asia Pacific Consumers Do Not Feel Responsible for Their Own Data Security

F5’s latest Curve of Convenience 2020 report shows that application users in Asia Pacific routinely overlook high-profile breaches in...

Vingroup partners with Medtronic to produce ventilator components

HANOI, VIETNAM - Media OutReach - August 13, 2020 - On August 12, 2020, VinSmart Research and Production Joint Stock Company (a subsidiary of Vingroup) officially announced the strategic...

Envision Digital Addresses Consumers’ EV Adoption Pain Points in Germany with New Home Charging Solution, Aims to Spur Electric Mobility Revolution

End-to-end, affordable solution solves private charging infrastructure gap and complements local government schemes to accelerate sustainable living and seven to 10 million EV take-ups...

Infinix to announce Zero 8 soon as its flagship smartphone for 2020

NAIROBI, KENYA and DODOMA, TANZANIA - Media OutReach - 13 August 2020 - Infinix is said to launch Zero 8 soon, which is the latest product of its...

Guinness Nigeria Plc Notifies Of Fire Incident At Its warehouse; Restates Commitment To Prompt Services

On the 13th of August, 2020, there was a fire outbreak at one of Guinness Nigeria Plc's external warehouses on Wempco Road, in the...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Guinness Nigeria Plc 9M'19/20 results - Earnings plunge on revenue and finance cost pressures - Brand SpurGuinness Nigeria Plc 9M'19/20 results - Earnings plunge on revenue and finance cost pressures - Brand Spur