Guinness Ghana records great performance despite pandemic

Guinness Ghana Breweries Plc recorded an impressive performance in the year ended 30 June 2021, despite the grim outlook of the beverages industry due to the COVID pandemic.

Speaking at the company’s Facts Behind the Figures event organized in in conjunction with the Ghana Stock Exchange, Finance Director, Teye Mkushi noted, “we have seen our volume growing by 23%, we have seen our revenue growing by 31%, we have seen operating margin growing by 591 basis points.”

“Our cash also growing by GHS 46.4 million and our earnings per share has grown to GHS 0.233 per share and we have proposed a dividend that is subject to approval from our shareholders. These results are credit to all of our Guinness Ghana employees, partners, consumers and shareholders.”

The company, which has been in existence for 61 years continues to lead the beverage industry in Ghana as the only total beverage company with an array of over 30 brands in its portfolio.

“The growth was driven by three main factors. First, we pride ourselves in gaining share in the beer and RTD category in F21. The second thing that has helped our performance has been all of the great work that has been done by the team in driving the productivity agenda from cost base, to enable us reinvest in our brands and innovate in new categories and segments,” Teye indicated.

“The third most crucial point comes down to all of our wonderful employees that are working tirelessly to ensure that we are celebrating life every day, everywhere, with our consumers, our suppliers and our customers.”

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Guinness Ghana Breweries Plc remains one of the Ghana’s most progressive business entities in Ghana and sources raw materials from over 10 of the nation’s 16 regions.

The company, in line with its diversity and inclusion targets has increased gender diversity within its business from 17% to 21%.

Speaking about the prospects of the business ahead of the new financial year, Teye Mkushi indicated, “investors should be optimist about F22 because we continue learn and innovate. We have gone more than a year now, post COVID, and we see that consumers are beginning to establish what the new normal is. People are looking to celebrate, get back to socializing and Guinness Ghana is well positioned to participate in key categories and the new channels we have built that can access consumers on e-commerce online or at home.”