people don't drink beer no more?

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

nnachukz:
There are hard and concrete facts backed with figures everywhere showing that this present administration isn't doing well, even in security area but sia buhari chanters won't see it. Good thing is all of us will sink together.

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?

angieberry:
Hope your broken heart is healed now
Valid points you made there

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.

ShowYourCertificate:
A whole Guinness? 76% loss? That's massive. Our economy is on a steady decline. Buhari is a certified dullard. It's now confirmed.

sorry Mr.smart, all that financial loss happened under Jonathan's administration, not Buhari's.so it's good you think before making assertions,.

ShowYourCertificate:
A whole Guinness? 76% loss? That's massive. Our economy is on a steady decline. Buhari is a certified dullard. It's now confirmed.

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?

bbjummy:
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

And you have a certificate? Sad!

Are you aware that Guinness' revenue declined by 11% in 2014?

God! There are too many dullards on this thread.

The funny thing is that they're the ones calling Buhari a dullard.

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?

blank:


I will fault your submission a bit. Increase in consumption of wine and spirits may not really be having that big an influence as their revenue actually grew. It's increase in the cost of sales (can hazard a guess that cost of raw materials increased because of the foreign exchange rate and restrictions on foreign currency) . Other income reduced significantly. Maybe investments had to be cancelled so as to source for more working capital, etc. Also, they might have done something major last year like dispose of significant amounts of their fixed assets, gotten a windfall etc.

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.

MadCow1:
How can??!!


When Orijin dey sell multi platinum daily?




I smell tax evasion scam!

God bless you for this short yet insightful post.

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?

fairheven:


sorry Mr.smart, all that financial loss happened under Jonathan's administration, not Buhari's.so it's good you think before making assertions,.

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.

ShowYourCertificate:
A whole Guinness? 76% loss? That's massive. Our economy is on a steady decline. Buhari is a certified dullard. It's now confirmed.

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.

ShowYourCertificate:
A whole Guinness? 76% loss? That's massive. Our economy is on a steady decline. Buhari is a certified dullard. It's now confirmed.

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.

Activa:


And you have a certificate? Sad!

Are you aware that Guinness' revenue declined by 11% in 2014?

Nope and is there no great difference between 76% and 11%? Really that is too much a loss!

Obrigardo:
The christians and moslems will be happy about this. high time beer and cigarette companies start announcing loss so they go out of business. Hypocrites!

then taxable income and coy income tax will reduce and you will start to cry that govt is not preforming

ShowYourCertificate:
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.

This is the first sensible and correct thing you have written on this thread.

Activa:
God! There are too many dullards on this thread.

The funny thing is that they're the ones calling Buhari a dullard.

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.

bbjummy:

Nope and is there no great difference between 76% and 11%? Really that is too much a loss!

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.

Activa:


And you have a certificate? Sad!

Are you aware that Guinness' revenue declined by 11% in 2014?

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!

AZeD1:

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.

Thank you! May God bless you.

Activa:


Shoddy analysis!

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?

Activa:


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.

I don't have one or better still I'm waiting to lend yours or won't you lend me? Free me abeggy

carboblanko:
Mr Man please read the post again slowly.Q1 means first quarter of the year in Jan-April. Who was the President then? Thank me later.

No, Q1 for Guinness starts in July - Sept. Guinness fiscal year ends on June 30th.

Activa:


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.

Oya, I've noticed you.

ShowYourCertificate:
The naira-dollar variation is most likely the cause. I'll blame Buhari and his economic team for that.

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?

ShowYourCertificate:


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.

Guinness didn't make a loss, they made a profit, just 76% less.

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!

AnanseK:

You are in haste. This is Q1 ( quarter one ) report , January 2015 - April 2015 when the clueless government of GEJ was supposed to be watching the economy but instead were busy emptying the treasury .

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:
Buhari wasn't there in the first quarter....it was gej that was there....by God's grace,our amiable president will fix it

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.

taiwolusol:


God bless you for this short yet insightful post.

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