Benin, 18 November 2013 – The 63rd Annual General Meeting of
Guinness Nigeria Plc took place under a warm atmosphere in the Best Western
Homeville Hotel, in the ancient city of Benin, Edo State on Friday, 15 November
2013. At the meeting where the audited results for the financial year ended 30
June 2013 was formally presented to the company’s shareholders, the board of
directors reported a five percent top-line growth in revenue, over the last
reporting period while the shareholders unanimously approved the dividend of
700 kobo per 50 kobo ordinary share proposed by the Board.
Assuring shareholders of a promising future for their company
and investment, the Chairman, Board of Directors, Guinness Nigeria Plc, Mr
Babatunde Savage pointed out that the company has made very strategic
investments to ensure a strong industry leadership for the business supported
by an improving economic outlook as government’s efforts to revamp the economy
appear to be yielding dividends. According to the Chairman, “Nigeria’s
inflation rate as at September 2013 stood at 7.83 percent as against 11.5 percent
in September 2012 and the Central Bank of Nigeria expects the inflation rate
for the rest of the year to remain moderate at below 10 percent. This decline
in inflation rate is expected to result in an increase in consumer’s disposable
income which could potentially translate into increased demand for fast moving
consumer goods.”
In an open show of confidence in the management of the
company, shareholders applauded when the chairman highlighted the efforts being
made “to steer the ship of this company to the agreed destination of business
excellence,” including the launch of new products and the expansion of the
manufacturing plants in Benin and Lagos. “These efforts demonstrate the
commitment of management to pilot the affairs of the company in a most profitable
manner. I am convinced that our company is endowed with the right blend of
human and material resources to make it as iconic and thriving as envisioned by
the management and desired by shareholders,” the chairman said.
“I can confidently declare to you that with the innovation
and strategy already being implemented in the current year, the future hold
great promises for us all,” the chairman concluded.
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