By April 2024, it is anticipated that Guinness Nigeria will discontinue the importation and commercialization of Diageo brands such as Johnnie Walker and Baileys. This strategic decision is projected to result in a reduction of around 6 percent in the overall revenues generated by the Nigerian brewing company.
Guinness Nigeria has conveyed its decision to cease trading in certain products through an official communication addressed to the Nigerian Exchange Limited (NGX). The rationale behind this action is Diageo Plc’s strategic intention to establish a fresh corporate entity, exclusively dedicated to the spirits sector, inside the Nigerian and African markets.
According to the statement, Guinness Nigeria will enhance its ability to concentrate on its primary operations, specifically its expertise in the production, promotion, and distribution of non-alcoholic beverages, beer, ready-to-drink products, and domestically manufactured spirits.
However, it is important to note that this might potentially have an effect on the company’s overall revenue. Specifically, the inclusion of Johnnie Walker, Baileys, and Singleton in Guinness Nigeria’s sales contributed a significant amount of N14 billion to their total revenue for the fiscal year that concluded on June 30, 2023.
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