Guinness Nigeria Breathes Easier After Tolaram Takeover as Earnings Jump
Guinness Nigeria, a brewing company, posted a profit after tax of N16.2 billion for the year ended June 2025 compared with a loss of N54.77 billion in the previous year.
Its revenue jumped to N496.61 billion from N299.49 billion, according to its earnings report released Thursday.
The brewer, in which Singapore-based Tolaram acquired the majority stake from British drinks giant Diageo last year, has staged a comeback after posting huge losses following the large devaluations of the naira in 2023 and 2024.
“This strong turnaround speaks to the quality of leadership, clarity of vision, and strength of governance at Guinness Nigeria,” Fabian Ajogwu, its chairman, said. “As we mark 75 years of doing business in Nigeria, this performance underscores our long-standing resilience and commitment to value creation.”
Girish Sharma, managing director/CEO, said the company has set an ambition of becoming “one of the best-performing, most trusted, and most respected consumer products companies in Nigeria”.
“That ambition is driving us to build a high-performance organisation with an entrepreneurial spirit. While the external environment remains dynamic, we are building on this momentum with confidence and purpose,” he said.
Tolaram signed an agreement to acquire Diageo’s 58.02% shareholding in Guinness Nigeria in June last year and completed the transaction in September.
In March this year, NSeven Nigeria Limited, owned by Tolaram, announced its decision to buy out the minority shareholders in brewing firm. Its stake has been increased to 70.86 percent.
