Guinness Nigeria posts N41.2bn profit after Tolaram takeover turnaround
Guinness Nigeria, backed by Tolaram, reported N41.2 billion post-tax profit for its eighteen-month financial year ending December 2025, a dramatic reversal from the N54.8 billion loss in 2024. Revenue surged 144% to N730.1 billion, driven by local sales contributing 98% of revenue and exports jumping to N13 billion from N3.6 billion. The company's financial year-end was shifted to December, enabling the eighteen-month reporting period that ended last December. Tolaram acquired a 58% controlling stake from Diageo for $70 million in 2024, which helped reduce finance costs by 74% from N101.6 billion to N26.3 billion. Equity climbed sharply to N43.3 billion from N2.2 billion after absorbing N46.4 billion in negative retained earnings. This turnaround marks a significant improvement in the brewer's financial health.