<< Back             Poser >> Guinness declares N265bn revenue, PAT up 53% to N25.3bn Business By Etop Ekanem Guinness Nigeria Plc has reaffirmed its confidence in the strength and future of its business, as the Company enters a new phase of growth underpinned by improved profitability, a significantly stronger balance sheet and continued investment in its brands, manufacturing capabilities and route to market. The company shared this outlook during its first half 2026 (H1’26) Investors and Analysts Call, where Managing Director/Chief Executive Officer, Girish Sharma, Finance and Strategy Director, Mayank Kabra, and Corporate Relations and Legal Director, Rotimi Odusola, provided investors and analysts with an update on Guinness Nigeria’s financial performance, strategic priorities and outlook. Guinness Nigeria delivered a strong performance for the six months ended 30 June 2026, reporting approximately N265 billion in revenue, while profit after tax grew 53 percent to N25.3 billion. The performance reflects the company’s continued focus on driving quality growth while improving operational efficiency and strengthening its financial position. A key highlight of the period was Guinness Nigeria’s significant progress in deleveraging and rebuilding its balance sheet. Shareholders’ equity increased from N43.3 billion to N64.2 billion, while net debt declined substantially from approximately N37 billion to about N19 billion. Speaking during the call, Sharma said the company’s progress reflected a deliberate focus on building a stronger and more resilient business. He stated: “We have made significant progress in strengthening our financial position while continuing to invest in the growth of the business. The days of operating with a weak balance sheet are behind us. Today, we are in a much stronger position to pursue growth, improve returns and create sustainable value for our shareholders and other stakeholders.” Vanguard	Naira depreciates to N1,362/$ in parallel market The Naira yesterday depreciated to N1,362 per dollar from N1,357 in the parallel market on Monday. West Africa must modernise agriculture for food security – Experts Experts have called for the urgent modernisation of agriculture across West Africa, stressing the need to move beyond increased production and focus on transforming agricultural value chains to ensure food security and improved nutrition amid growing climate and population pressures. Climate change threatens Nigeria’s food systems as farmers count losses ….experts call for urgent, sustainable measures to mitigate impacts By Gabriel Ewepu ABUJA — Nigeria’s food system is facing growing threats from climate change as erratic rainfall, prolonged dry spells, flooding, rising temperatures, pests and diseases disrupt farming activities, slash yields and leave farmers counting losses running into billions of Naira. The situation, according to […] World Bank: Fuel price to slow Nigeria’s poverty reduction •Says rising pre-election spending may derail reforms •Raises Nigeria’s 2026 growth forecast to 4.3% •Projects 15.7% inflation rate for 2026 •44% of firms in Nigeria, Kenya adopt AI, power constraints threaten gains By Babajide Komolafe, Economy Editor The World Bank has warned that elevated fuel prices could slow Nigeria’s poverty reduction efforts despite an expected […] Government releases GH¢9.1b covering six quarters of DACF to MMDAs – Ayariga Mr Mahama Ayariga, the Minister of Local Government, Chieftaincy and Religious Affairs, has announced government's release of GH¢9.1 billion, covering six quarters of the District Assemblies Common Fund (DACF) to Metropolitan, Municipal, and District Assemblies (MMDAs) nationwide. Cedi was worst African currency in quarter 2, 2026 – World Bank According to the World Bank, the escalation of the conflict in the Middle East initially exerted broad-based pressure on African currencies.