In its recently released Q1:2021 financial scorecard (Full Year is June), Guinness Nigeria Plc. (GUINNESS) reported an 11.62% YoY improvement in revenue to NGN30.02bn (vs. NGN26.90bn in Q1:2020) – driven by the company’s Spirits, Guinness brand and Malt categories. Although the first quarter is characteristically the brewer’s weakest, the gradual reopening of on-trade sales channels powered revenue growth. This is evidenced by the strong double-digit growth (+13.14% YoY) in domestic sales despite the sustained decline in export sales (-46.10% YoY).
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