Guinness Nigeria Q1 2026 Results: Profit Up 48%, Dividend Declared

Guinness Nigeria Plc disclosed its unaudited results for Q1 FY2026, showing revenue of ₦122.77 billion — a modest 4% increase from ₦118.34 billion in Q1 FY2025. However, gross margin slipped from 37.6% to 35.4%, as cost of sales rose faster than revenue, reflecting persistent input cost pressures.

Operating profit also dipped slightly to ₦17.18 billion from ₦17.99 billion. The standout improvement came from finance costs, which fell sharply from ₦7.72 billion to ₦1.43 billion — a clear sign of improved balance sheet management and reduced debt burden.

This dramatic reduction in financing costs drove Profit Before Tax up 53% to ₦15.75 billion, with Profit After Tax rising 48% to ₦10.39 billion, translating to earnings per share of ₦4.74 versus ₦3.21 previously. The Board approved an interim dividend of ₦2.00 per ordinary share, with a qualification date of 20 April 2026, amounting to a total payout of approximately ₦4.38 billion.

Investors should watch whether gross margin compression deepens in coming quarters and whether the improved finance cost position is sustained, as these two factors will ultimately determine the durability of Guinness Nigeria's bottom-line recovery.