NIGERIA: Guinness Nigeria Q1 profits fall
Net profits for the three months to the end of September fell to NGN1.6bn (US$10.9m), compared to NGN2.6bn in the same period of last year, Guinness Nigeria said in a stock exchange filing yesterday (23 November).
The slip in profits marred a net sales rise for the group, to NGN20.62bn (US$137.5m) from NGN16.9bn.
Further details were not released by the group.
Guinness net sales in Africa rose by 18% in Diageo's most recent full-year, to the end of June 2009, according to the group's 2009 annual report.
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