• Cost of Sales declined faster than revenue boosting gross margin to 32%• Distribution and administration expenses increased on the back of inflation• Profit after tax impacted significantly by the depreciation of the Naira
We remain confident however, that the underlying performance of our main strategic focus brands/categories – Guinness, Malta Guinness, RTDs and spirits – remains solid.”. We also boosted our marketing spend by 6% to support our brands. The operating profit declined by N2.1bn. The recent depreciation of the Naira drove the increase in finance costs by N2.1b year on year, impacting profit delivery.”
We have made donations of hand sanitisers as well as provided non-alcoholic drinks to the Nigeria Center for Disease Control , the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development and several states in Nigeria.
Awon aiye mu nkan
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