Guinness Nigeria raises over N206b revenue in year-end Despite lingering economic headwinds, Guinness Nigeria Plc, a subsidiary of Diageo Plc, recorded an impressive performance in the year-end. According to its audited results for the period ended 30 June, 2022 the company recorded an impressive 1147% increase in profit after tax, with double digit revenue growth across all key categories, despite the challenging macro environment. The audited results which were released to the Nigerian Exchange Group (NGX) at the financial year-end indicated that revenue increased by 29% to N206.8bn the prior period of 2021 just as the net financing costs decreased by 94% as a result of reduction in the net interest cost, and investments of excess naira cash in fixed deposits with banks at higher rates. The statement also noted that the business’ profit before tax increased to N23.7billion, a 310% growth compared to the same period last year while its operating profit increased by 142% in the period under review. Higher corporate tax was reportedly driven by the increase in operating profit and reduced net finance costs.