Guinness Nigeria PLC said its normalized net income for the fiscal third quarter ended March 31 was 1.03 nairas per share, an increase of 75.7% from 59 kobo per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.55 billion nairas, a gain of 75.7% from 880.8 million nairas in the year-earlier period.
The normalized profit margin rose to 5.2% from 3.5% in the year-earlier period.
Total revenue increased 16.7% on an annual basis to 29.48 billion nairas from 25.26 billion nairas, and total operating expenses increased 13.4% on an annual basis to 25.86 billion nairas from 22.80 billion nairas.
Reported net income rose 92.1% on an annual basis to 1.82 billion nairas, or 1.21 nairas per share, from 946.4 million nairas, or 63 kobo per share.
As of May 12, US$1 was equivalent to 199.05 nairas.
