Guinness Nigeria Plc has released its unaudited result for first quarter2025, reporting a loss per share of ₦5.55, a significant decline from the earnings per share of ₦1.19 recorded in first quarter of 2024.

The brewer’s revenue grew impressively by 111.4% year-on-year, driven by continuous product innovation, higher pricing, and strong performance in key strategic categories such as Stout, Ready-to-Serve, and Mainstream Spirits.

However, the company’s gross profit margin contracted by 19.14 percentage points to 11.3%, due to elevated cost pressures and foreign exchange losses.

Operating expenses rose by 81.7% year-on-year, resulting in an operating loss of ₦6.87 billion, while net finance costs surged by 126.0% year-on-year to ₦9.17 billion.

The company posted a pre-tax loss of ₦16.03 billion and a loss after tax of ₦12.17 billion.

Analysts attribute the decline in earnings to ongoing macroeconomic challenges, including inflation, currency depreciation, and foreign exchange market liquidity issues.

Despite expectations of sustained revenue growth, profitability is likely to remain under pressure due to elevated cost pressures and currency depreciation.

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