Guinness Nigeria's Profit Rises, But Cash Flow Declines

For the nine months ending September 2026, Guinness Nigeria Plc (NGX: GUINNESS)'s profit after tax rose by 53.1 percent to N40.69 billion, up from N26.59 billion the previous year. Revenue increased by 20.4 percent to N403.33 billion, while operating profit rose by 23.4 percent to N64.98 billion.

Profit before tax climbed 55.3 percent to N61.65 billion, aided by a significant reduction in finance expenses, which fell by 61.9 percent to N5.83 billion. Despite these positive profit figures, cash generated from operating activities declined by 16.8 percent to N51.56 billion.

The company's cash and cash equivalents shifted from a positive N6.45 billion at the start of the year to a negative N1.41 billion by September-end. Inventory pressures were noted, with stock rising 43.3 percent to N65.65 billion, tying up an additional N19.83 billion, which adversely affected cash flow compared to the previous year.