May 3 (Lagos) - Beer maker, Guinness Nigeria Plc reported is results for the first quarter of 2012. Top line revenue increased by 2.5% to N 92.07 billion in the first three months of 2012 from up from N 89.80 billion during the same period of 2011. Rising costs led to a lower net income for the quarter.
Marketing and admin expenses increased by almost 24% to N 26.11 billion during the quarter. Interest expense grew by 722% to N 822.57 million from N 99.97 million during 2011 q1.
Guinness Nigeria Plc reported a profit after tax of N 9.07 billion for the first quarter of 2012 which is 24% lower than the N11.94 billion the company earned during the same period of last year.
Shares of Guinness Nigeria Plc trade at N 240 per share at the Nigerian Stock Exchange in Lagos. Company is known to pay excellent dividends and these shares are always remain in hot demand.
reporting for easykobo.com on Thursday, May 3 2012 from Lagos, Nigeria.