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17.10.2008 Business & Finance

Guinness Chalks Impressive Gains

By Daily Guide

Guinness Ghana Brewery Limited (GGBL) has achieved a remarkable growth in its profit before tax of GH¢23.1 million, a 52 percent rise over the last financial year.

Normally, the company's financial year starts in July and ends in June.

Importantly, the brewery giant's turnover grew significantly by 31 percent from GH¢125 million in 2007 to GH¢164 million according to the 2008 financial year which ended in June this year.

Similarly, the growth in volume also shot up by nine percent. These impressive financial results show that shareholders will be smiling all the way to the bank as the company also increased its  earnings per share or dividend to shareholders to GH¢0.1001 per share, from GH¢0.0854.

Senu Adetu, Managing Director, GGBL, disclosed this at the “Facts Behind Figures Programme” organized by the Ghana Stock Exchange in Accra yesterday.                        

Outlining the performance of the company, Mr. Adetu said his outfit had a brilliant year with sustained track record of performance fuelled by strong brands and corporate reputation.

Others included a brand building consumer marketing capability, driving competitive edge and an increased focus on brand management.  

Speaking with so much confidence, Mr. Adetu noted that GGBL will continue to control the market where it has gained 75 percent share, by keeping its focus on organic business growth and strengthening its leadership position in the market among others.

“The continuing stability of the Ghanaian economy creates a strong base for growth in the industry. Our vision is to establish GGBL as the most celebrated company in Ghana.”

On the company's future plans, the Managing Director said GGBL is currently engaged in capital investments in the breweries as well as working with the two major shareholders, Diageo and Heineken, to ensure products are benchmarked.

So far the company has invested $40 million in the last 12 months and intends investing additional $40 million in the next 12 months.

Since the beginning of the year, GGBL has seen an 82.78 percentage points return gain on its share price, increasing from GH¢1.231 per share to GH¢2.25 till date.

Mr. Adetu explained that his outfit would double its net sales value and triple its profit by 2011.

Due to this, he said, the company has drafted three strategic plans including delivering great times and experiences of the brands to achieve this vision.

Diageo Highlands BV of Ireland, Heineken of Holland and the Social Security and National Insurance Trust (SSNIT) own 51, 20 and 11 percent shares respectively in the company.

By Charles Nixon Yeboah