New Telegraph

Guinness says it has no plan to exit Nigeria

Guinness Nigeria Plc. has said it has no plans to exit Nigeria, contrary to the orchestrated false publication making the rounds. The brewer, which stated this in a statement obtained from the Nigerian Exchange Limited (NGX), said: “The attention of the management of Guinness Nigeria Plc. has been drawn to some false, malicious, and misleading publication trending on some social media platforms alleging that Guinness Nigeria is relocating out of Nigeria and consequently planning to sell some assets.

“This falsehood is being irresponsibly circulated by faceless persons purporting to be property agents and unfortunately being amplified by some online news media without proper checks with the management of the company. “We are strong, stable, and delivering value to our esteemed stakeholders. We would also like to clearly state that the malicious publication is not in tandem with our well-publicised investment and expansion drive, as we recently reaffirmed our longterm strategic expansion plans in Nigeria with the acquisition of an additional 25-acre commercial property in the Ogba industrial area of Lagos purchased recently in late 2021.”

Guinness Nigeria noted that recently it announced its Half Year Unaudited Financial Result for the 6 months ended 31st December, 2021, in which “we notified our esteemed shareholders of our stellar performance in which our 6 months’ Operating Profit grew by 266 per cent to N13.6 billion.

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