Business
Shareholders Laud Guinness Over Good Performance
Guinness Nigeria plc has been congratulated by its shareholders for its good performance for the year ended June 30, 2009 despite its operations under harsh economic conditions.
The shareholders have also commended on the company’s stability in the stock exchange market the global economic crisis facing the market.
Guinness Board of Directors proposed to pay a dividend of N7.50 per share from the profit that was realised during the financial year to the approval of their shareholders.
New chairman of the Guinness Company, Babatunde Sauage in his statement to shareholders said that Guinness Nigeria will remain strong and reliable.
The results showed a turnover of N89 billion, an increase of 29 percent over the previous year. Trading profits grew by 25 percent to N19.81 billion, while earnings per share also increased by 14 percent to N19 billion, and this was the reason the directors declared a cumulative dividend of N11.1 billion.
The result has further helped surface Guinness as a leading player in the Nigerian economy, said Mr Sunny Nwosu, a shareholder.