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.