The brewer’s stock has surged over 400% in a year. Now audited results confirm what the market anticipated , a decisive turnaround after two years of losses and a landmark ownership change.
Guinness Nigeria Plc has returned to profit in dramatic fashion, booking a ₦41.2 billion net profit after tax for the eighteen-month period ended 31 December 2025 , erasing a ₦54.7 billion loss and signalling a decisive break from the naira-crisis turbulence that battered Nigeria’s consumer goods sector in recent years.
The figures cover an extended 18-month window , the result of Guinness Nigeria aligning to a new December year-end under Tolaram Group, which completed its acquisition of Diageo’s 58.02% shareholding on 30 September 2024. Crucially, Diageo retains ownership of the Guinness brand, which is now licensed back to the Nigerian brewer under a long-term royalty agreement , an arrangement that keeps the iconic stout Nigerian-made but globally tethered.
“These results reflect the resilience of Guinness Nigeria and the disciplined execution of our strategy during a pivotal period.”— Prof. Fabian Ajogwu SAN, Chairman, Guinness Nigeria Plc
The turnaround arrives as Nigeria’s macroeconomic environment shows its own signs of stabilising. Headline inflation, which had ravaged consumer purchasing power and pushed the company deep into the red in prior years, eased to 15.1% in December 2025 , the softest reading since November 2020, aided by a stronger naira and improved food supply. That cooling, while still painful for consumers, created meaningful relief for brewers managing input costs and pricing strategy.
⚡ Market signal: Guinness Nigeria’s NGX-listed shares have surged over 422% in the past 52 weeks, suggesting investors priced in this recovery well ahead of the audited confirmation. The stock closed at ₦349.90, up from lows near ₦70 a year ago , a rare show of conviction in a market known for its volatility.
Managing Director Girish Sharma, appointed as part of the post-acquisition leadership overhaul, framed the results as validation of a wholesale reset of the business. His track record is telling: before taking the helm at Guinness Nigeria, Sharma served as CEO of Tolaram’s joint venture with Colgate-Palmolive, and as Chief Operating Officer overseeing the rise of Indomie , Tolaram’s flagship instant noodle brand, into a household name across Nigeria and Ghana. His playbook, by all accounts, is rooted in volume-driven commercial discipline and brand clarity.
“We are intent on accelerating growth, embedding a high-performance culture, and delivering sustainable value across our portfolio.”
— Girish Sharma, MD/CEO, Guinness Nigeria Plc
The recovery still needs context. Nigerian Breweries, Nigeria’s largest brewer with over ₦1.1 trillion in annual revenue , remains far ahead by scale, while International Breweries leads on market capitalisation. Guinness is the smallest of the three major players, but posted the strongest revenue growth rate among them in 2025. Size isn’t the only scorecard, however: Guinness is closest to returning to dividend-paying status, having cut its accumulated losses to ₦39.7 billion , a fraction of Nigerian Breweries’ ₦126 billion hole. For income-focused investors, that matters.
As Guinness Nigeria marks 75 years of brewing in Nigeria, the company’s first clean 12-month cycle , January to December 2026 , will be the real test. The rebound is real. The harder work is making it last.
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Guinness Nigeria Plc is listed on the Nigerian Exchange Group under the ticker GUINNESS. Full audited results are available via the company’s investor relations portal. Diageo retains the Guinness brand under a long-term licence agreement.
