Guinness Ghana Breweries holds AGM

In the year under review, the business achieved significant growth with notable financial highlights of the year ended June 2012, including a four per cent growth in volume over 2011 and a 96 per cent increase in profit before tax.

The company’s turnover also appreciated by GH¢48million from GH¢244million in 2011, to GH¢292million in 2012 Profit after tax increased to GH¢25million

Contributions to national revenue comprising excise duty, sales tax/VAT also increased by 16 per cent to GH¢150m

The Board Chairman, Mr David Harlock, informed the shareholders of the tremendous achievements chalked by the business in the year under review.

He said the Kaasi brewery, the flagship headquarters, operated for three years without Lost Time Accident (LTA).

Mr Harlock noted that ‘The journey of becoming Ghana’s most vibrant and Iconic business by Financial year 2017 is well underway and I am extremely pleased to announce that GGBL has delivered impressive growth in Net Sales Value, profit before tax and on cash flows’.

The business, he said, was investing £26.4m to expand the production capacity of the Kaasi brewery to continue to deliver good quality products to consumers and entrench its leadership in the beverage industry.

The expansion, he added, was expected to create many jobs opportunities for Ghanaians.

Mr Harlock indicated that GGBL was determined to grow the business back to profitability in Ghana’s developing economy and would leverage on the growth in the country to develop the business to meet consumer needs as well as satisfy investors with good performance.

GGBL being the first subsidiary of the Diageo Group to introduce and launch Armstrong, an alcoholic drink, was honoured with the Gold and Bronze Diageo GREENiQ Awards for reducing water usage by 28 per cent through investment in new equipments and reinforcing a culture shift among employees and also expanding the Early Career Trainee Programme to increase opportunities for young university graduates.