Guinness Nigeria Plc wrapped up its 2023 fiscal year (full year ended in June) with a 10.94% YoY revenue growth, reaching NGN229.44bn from NGN206.82bn in 2022FY. Domestic sales, constituting around 99% of the total revenue, surged 10.97% YoY to NGN227.35bn, while exports grew by 7.18% YoY, totalling NGN2.05bn (compared to NGN204.87bn and NGN1.95bn in 2022FY, respectively). This upturn is attributed to strategic pricing adjustments and improved distribution efficiency via the B2B platform. Notably, stout, ready-to-drink, and mainstream spirits posted robust growths of 14.00%, 36.00%, and 12.00% YoY, respectively.
