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Nairaland Forum / Nairaland / General / Investment / Guinness Nigeria Suffers 76% Profit Decline (16668 Views)
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Re: Guinness Nigeria Suffers 76% Profit Decline by Nobody: 8:34pm On Oct 23, 2015 |
people don't drink beer no more? |
Re: Guinness Nigeria Suffers 76% Profit Decline by bbjummy: 8:34pm On Oct 23, 2015 |
The certificateless is in charge. Wetin concern am with economy declination . All he knows is that he is your president and you can do nothing about that |
Re: Guinness Nigeria Suffers 76% Profit Decline by Nobody: 8:35pm On Oct 23, 2015 |
nnachukz: Which concrete facts? Do you know that many banks' profits have been declining or flat since about 3 yrs ago? Do you know that Guinness' profits have been declining before this year? 2 Likes |
Re: Guinness Nigeria Suffers 76% Profit Decline by wristbangle: 8:36pm On Oct 23, 2015 |
angieberry: Thanks darl. Now you see why I have to book space on FP for Nigerians most especially top management of guinness to see how made mockery of a prospect candidate who would have contributed to the growth of the company. |
Re: Guinness Nigeria Suffers 76% Profit Decline by fairheven: 8:38pm On Oct 23, 2015 |
ShowYourCertificate: sorry Mr.smart, all that financial loss happened under Jonathan's administration, not Buhari's.so it's good you think before making assertions,. |
Re: Guinness Nigeria Suffers 76% Profit Decline by Remii(m): 8:41pm On Oct 23, 2015 |
ShowYourCertificate:so to you for an annual account that ended on 30 Sept, 2015 its someone that took over on May 29th that is responsible for the outcome abi? 2 Likes |
Re: Guinness Nigeria Suffers 76% Profit Decline by Nobody: 8:41pm On Oct 23, 2015 |
bbjummy: And you have a certificate? Sad! Are you aware that Guinness' revenue declined by 11% in 2014? |
Re: Guinness Nigeria Suffers 76% Profit Decline by Nobody: 8:45pm On Oct 23, 2015 |
God! There are too many dullards on this thread. The funny thing is that they're the ones calling Buhari a dullard. 3 Likes |
Re: Guinness Nigeria Suffers 76% Profit Decline by fairheven: 8:47pm On Oct 23, 2015 |
how myopic can one be by blaming buhari for something that happened under Jonathan's administration. the report say Guinness published "first quarter results"an some folks are blaming buhari is it that we don't know the meaning of "first quarter? " first quarter obviously took place under Jonathan's era but the result is coming now, so why blame buhari? |
Re: Guinness Nigeria Suffers 76% Profit Decline by Nobody: 8:48pm On Oct 23, 2015 |
blank: It's still all speculation. None of the reasons you provided, as bright as they are, is conclusive. Even if Fx rate moves against you, you might save costs in other areas. Eg finance cost. |
Re: Guinness Nigeria Suffers 76% Profit Decline by Nobody: 8:48pm On Oct 23, 2015 |
MadCow1: God bless you for this short yet insightful post. 1 Like |
Re: Guinness Nigeria Suffers 76% Profit Decline by fairheven: 8:50pm On Oct 23, 2015 |
how myopic can one be by blaming buhari for something that happened under Jonathan's administration. the report say Guinness published "first quarter results"an some folks are blaming buhari is it that we don't know the meaning of "first quarter? " first quarter obviously took place under Jonathan's era but the result is coming now, so why blame buhari? |
Re: Guinness Nigeria Suffers 76% Profit Decline by ShowYourCertificate: 8:52pm On Oct 23, 2015 |
fairheven:Each Company has its own new year which must not necessarily be January. That of Guinness is July thus its first quarter for the year is July, August and September. The dullard president was sworn in before then. |
Re: Guinness Nigeria Suffers 76% Profit Decline by Nobody: 8:54pm On Oct 23, 2015 |
ShowYourCertificate: You've run away...with your tail between your legs. Come and defend your ignorant position! Abeg, stop spreading ignorance and hate. Can you now see why they say the youth have failed Nigeria? You're one of those disgracing the young people. 1 Like |
Re: Guinness Nigeria Suffers 76% Profit Decline by arent88(m): 8:54pm On Oct 23, 2015 |
ShowYourCertificate:if u had any little knowlegde in u,u would have known that u can not make a complete judgement abt what led to this fall in profit without seeing the complete financial statement for the 3 months.u shld hav also noticed that revenue grew by 3 percent meaning their sales increased.cost of sales increased in the first qtr of this year compared to thesame period last year.there are various factors that had contributed to the increase in cost of sales.so without seeing the complete financial statement how did u come to the conclusion that buhari was the cause.u keep saying the president is a dullard but u have shown that u are also an illitrate. |
Re: Guinness Nigeria Suffers 76% Profit Decline by bbjummy: 8:55pm On Oct 23, 2015 |
Activa:Nope and is there no great difference between 76% and 11%? Really that is too much a loss! |
Re: Guinness Nigeria Suffers 76% Profit Decline by emmykk(m): 8:55pm On Oct 23, 2015 |
Obrigardo:then taxable income and coy income tax will reduce and you will start to cry that govt is not preforming |
Re: Guinness Nigeria Suffers 76% Profit Decline by Nobody: 8:56pm On Oct 23, 2015 |
ShowYourCertificate: This is the first sensible and correct thing you have written on this thread. |
Re: Guinness Nigeria Suffers 76% Profit Decline by AZeD1(m): 9:02pm On Oct 23, 2015 |
Activa:Now you can understand why they say the youths of Nigeria aren't ready for leadership. Guinness has been in trouble for a while now. Nigerian Breweries and Heineken are killing them. The introduction of Orijin actually saved Guinness and i can bet that is what lead to their revenue increase. If we ever get to see a break down of sales per brand, my money is on Orijin as the only profitable brand. 1 Like |
Re: Guinness Nigeria Suffers 76% Profit Decline by Nobody: 9:02pm On Oct 23, 2015 |
bbjummy: Does this not tell you take a second look at Guinness before lazily putting the blame on whoever with or without a 'certificate'? The issues in Guinness started long ago. Do some research! By the way, I'm yet to see you demonstrate that you hold any certificate. 1 Like |
Re: Guinness Nigeria Suffers 76% Profit Decline by bbjummy: 9:05pm On Oct 23, 2015 |
Activa:Really sad and I do hope you know that there is a huge difference between 76% and 11%. Really, that is too much a loss! |
Re: Guinness Nigeria Suffers 76% Profit Decline by Nobody: 9:06pm On Oct 23, 2015 |
AZeD1: Thank you! May God bless you. |
Re: Guinness Nigeria Suffers 76% Profit Decline by ShowYourCertificate: 9:07pm On Oct 23, 2015 |
Activa:Shoddy response! Did you notice that their revenue actually grew by 3%?Yes, I did. That even indicts Buhari's regime the more. How can a company with an increased revenue (3%) still end up making a huge loss (76%). That shows you the increase in cost was exponential/astronomical when compared with the arithmetic increase in revenue. The naira-dollar variation is most likely the cause. I'll blame Buhari and his economic team for that. Have you looked in th direction of 'othe income' and it's components?Yes I have. What's your point? Do you know the make-up of 'cost of sales' that went up?I know that it's due to the increase in cost of transportation/distribution, marketing and promotions. All these are tied to our government fiscal policies. This indicts Buhari further. Purge yourself of hate and apply yourself!Hate ke? Bros, you are high on something. Meanwhile, what I'm saying doesn't mean that I agree 100% with the economic direction of the present govt but your analysis is poor, shoddy and dull.You don't agree 100%? Oya tell me how many percent? |
Re: Guinness Nigeria Suffers 76% Profit Decline by bbjummy: 9:08pm On Oct 23, 2015 |
Activa:I don't have one or better still I'm waiting to lend yours or won't you lend me? Free me abeggy |
Re: Guinness Nigeria Suffers 76% Profit Decline by john650(m): 9:10pm On Oct 23, 2015 |
carboblanko: No, Q1 for Guinness starts in July - Sept. Guinness fiscal year ends on June 30th. |
Re: Guinness Nigeria Suffers 76% Profit Decline by ShowYourCertificate: 9:11pm On Oct 23, 2015 |
Activa:Oya, I've noticed you. |
Re: Guinness Nigeria Suffers 76% Profit Decline by Nobody: 9:12pm On Oct 23, 2015 |
ShowYourCertificate: Keep exposing your ignorance and bias. You're not SURE of the cause yet you rushed to blame! Again, the issues in Guinness started long before this year. In 2013, Guinness' profit after tax declined by 17%. What do you say to that? |
Re: Guinness Nigeria Suffers 76% Profit Decline by AZeD1(m): 9:13pm On Oct 23, 2015 |
ShowYourCertificate:Guinness didn't make a loss, they made a profit, just 76% less. 3 Likes |
Re: Guinness Nigeria Suffers 76% Profit Decline by plainmirror(m): 9:13pm On Oct 23, 2015 |
Sometimes when I look back and reminisce all the bottles of alcohol that I have gulped, I feel sad and ashamed. But I remember the people in the brewery, their dreams and aspirations. Then I say to myself, if I don't drink they might be put out of work and all there plans shattered. I then say 'it is better to keep drinking to see there dreams fulfilled than to be selfish and worry about my liver'. HERO (mmaya m) Ooooompa! 2 Likes |
Re: Guinness Nigeria Suffers 76% Profit Decline by Primegold: 9:14pm On Oct 23, 2015 |
AnanseK: The first line of the article clearly states that the Q1 is the 3 months ending SEPTEMBER 30th 2015. Guinness runs a financial year calendar that starts from July. So, their Q1 is July -Sept as stated in the article. baba11: Not true sir. Period under reference is part of the early days of the new administration that came to power on May 29th. However, the key concern for all should be why such a major part of our manufacturing landscape (Guinness PLC) is posting such sorry results. What led to the increase in cost of doing business for Guinness? Could it be increase in the cost of raw materials/cost of distribution/marketing costs/personnel costs/cost of funds/increase in taxes or decrease in margins? This is just a tip of what to expect when others start publishing their results. LCCI has been shouting itself hoarse that the environment is not conducive for economic growth. I pray the new administration will put in place a strong economic team to guide economic decisions of the government to focus on driving economic growth, wealth and job creation. All hands must be on deck and blame game should take a back seat. 1 Like |
Re: Guinness Nigeria Suffers 76% Profit Decline by davide470(m): 9:16pm On Oct 23, 2015 |
taiwolusol:Insightful Really.. A Multinational, whose results was audited by one of the big 4's would evade tax Orijin selling at 100% Max is very different from the cost of selling Orijin at 100% Max. Now that was insightful |
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