Ghana: Heineken subsidiary Guinness Ghana Breweries Limited reported profit after tax stood at GHC1.048 trillion for FY2006

Heineken subsidiary Guinness Ghana Breweries Limited (GGBL) has recorded a turnover of GHC1.048 trillion for the 2006 financial year ending June 31, Graphic Ghana published November 10.

The figure is a 31 per cent rise over its 2005 figure of GHC799.45 billion. The company�s profit after tax also stood at GHC150 billion, which shot up from the GHC108 billion recorded the previous year.

After recommending a dividend payout of GHC418 per share, amounting to GHC68.8 billion, Guinness Ghana retained a profit of GHC81.23 billion for 2006 as against GHC59.45 the previous year.

The company�s strong performance was underpinned by a 2.3 per cent increase in sales volume for its flagship brand Guinness Foreign Extra Stout, with its Lagers growing by 7.6 per cent, while the ready-to-drink (RTD) category, which includes Gordon�s Spark and Smirnoff Ice grew by 19.5 per cent.

In the Malt brands, Malta Guinness and Amstel Malt appreciated 12.5 per cent and six per cent respectively over the previous year�s volume.

The Board Chairman, Dr. Nick Blazquez, said the company�s impressive performance reflected the continued growth of the company and also the benefits from the integration of Guinness with Ghana Breweries Limited.

On outlook, the board chairman reaffirmed the company�s commitment to deliver a sustained strong performance, saying that was demonstrated by its efforts at returning higher value to shareholders.

Return on shareholders fund was 29 per cent as against 25 per cent the previous year.

Dr Blazquez announced that the company had constructed an ultra modern effluent treatment plant at Kaasi which, he said, would considerably improve the quality of the company�s effluent discharge into the environment.

GGBL, he said, also paid a total of GHC524.2 billion excise duty and Value Added Tax (VAT) to the government as well as income tax and national reconstruction levy of GHC43 billion.

The Managing Director of Guinness, Mr Seni Adetu, stated: "We have secured a solid platform for organic growth based on our premium brand portfolio. Our teams are dedicated and talented, and we operate within a culture of high performance.� He said it was the vision of the company to create first choice brands, develop relationships that brought out the best, and enriched the communities they worked in.

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