Guinness Nigeria Holds 2024 Annual General Meeting Amid Transition, Growth

Guinness Nigeria Plc, a leading total alcoholic beverages company, held its 2024 Annual General Meeting (AGM), welcoming shareholders to an event that highlighted resilience and progress. This year’s Annual General Meeting is particularly significant as it follows the recent transition to new majority ownership, marking a new chapter in the company’s history.

During the Annual General Meeting, Guinness Nigeria presented its financial results for the fiscal year ending June 30, 2024. Despite the challenging macroeconomic environment, the company reported strong revenue growth, underlining its ability to navigate adversity and in the challenging operating environment. The company’s shareholders also gave unanimous approval to all resolutions presented at the General Meeting, including the confirmation of the new administrators appointed to the company’s Board.

The Chairman of the Board of Directors of Guinness Nigeria Plc, Dr. Omobola Johnson, said: “In the period under review, Guinness Nigeria has proactively realigned and repositioned itself to effectively adapt to the changing landscape of the FMCG sector in Nigeria. We continue to value the constant delivery of quality products to our consumers in the relentless pursuit of our goal of being one of the most respected and best performing consumer products companies in Nigeria.”

Dr. Johnson emphasized the company’s strong focus on innovation and consumer satisfaction, identifying these as key drivers of its success. She noted that as Nigeria’s leading total alcoholic beverage company, innovation plays a central role in its operations. The company remains committed to continually evolving to meet consumer needs while preserving the legacy of its iconic brands. This approach, she explained, has enabled Guinness Nigeria to maintain its market leadership, with the firm intention of building on this legacy in the coming years.

The Managing Director of Guinness Nigeria Plc, Girish Sharma, echoed these sentiments, outlining the strategic direction of the company following the acquisition by the Tolaram Group.
“Guinness Nigeria is one of the country’s leading companies and although we have faced challenges such as currency volatility, we are taking decisive action to address them. My top three priorities are restoring profitability, improving production efficiency and building a strong, capable team.”
Sharma emphasized the importance of financial performance and sustainable growth: “Our goal is to ensure that every bottle we produce is more profitable and manufactured efficiently. By empowering our teams, I am confident we will drive sustainable growth.”

He also highlighted the company’s resilience: “Despite macroeconomic challenges such as inflation and currency volatility, Guinness Nigeria continues to deliver solid results through operational efficiency, innovation and sustainability. Our transition under new ownership presents exciting growth opportunities, including local sourcing initiatives that will drive both revenue and job creation.”

On sustainability, Sharma added: “As we embark on this new chapter, we remain committed to sustainable practices, strong governance and community engagement. These values, along with our innovative strategies, will position us for even greater success.”
With the conclusion of the Annual General Meeting, Guinness Nigeria looks forward to the next phase of its journey, building on its strong foundation of iconic brands, innovative practices and commitment to delivering value to its shareholders and stakeholders. Shareholders expressed optimism about the future, especially about the opportunities the change in ownership will bring.

About Guinness Nigeria Plc
Guinness Nigeria is the leading total alcoholic beverage company in Nigeria, with a broad portfolio of brands that cater to consumers of non-alcoholic and alcoholic beverages, including malts, ready-to-drink beverages, spirits, stouts and lagers. Some of its well-known and respected brands include Guinness Foreign Extra Stout, Guinness Smooth, Malta Guinness, Orijin Bitters, Dubic Malt, Gordons Pink Berry, Gordons Orange Sunset, Smirnoff Ice, Smirnoff X1 Choco Vodka, Smirnoff Pine-apple Soco, among others.
With a very clear ambition – “To be one of the best performing, most trusted and respected consumer products companies in Nigeria”, Guinness Nigeria delivers on its sustainability and responsibility commitments which focus on three areas: Promoting consumption alcohol positive, defending inclusion and diversity and Pioneering sustainability from grain to glass. The company continues to be an advocate for responsible consumption and community development.