Guinness Ghana Breweries Public Limited Company (PLC) recorded a net profit of GH¢184.85 million for the nine months ending March 31, 2026, down from GH¢212.91 million in the same period last year, as scheduled production line maintenance, a regulatory-driven product write-down, and parallel import competition weighed on performance.
Revenue from contracts with customers declined to GH¢2.13 billion from GH¢2.59 billion, with management attributing the drop largely to capacity constraints caused by a planned overhaul of the company’s packaging lines. The maintenance programme, though disruptive in the short term, is designed to expand production capacity and improve operational efficiency once complete.
Despite the revenue pullback, total margins improved to 24.2 percent from 23 percent, driven by the cedi’s relative stability, stronger procurement strategies, and a deliberate shift toward local raw materials. Gross profit came in at GH¢515.57 million against GH¢594.76 million a year earlier, while operating profit reached GH¢248.69 million compared to GH¢310.85 million.
A one-off inventory write-down on Smirnoff Ice Guarana, following recent regulatory developments around the mixed drink product, further dented quarterly results. The company also absorbed higher fixed costs during the maintenance phase and costs associated with a transition to a new Enterprise Resource Planning (ERP) system. Operating profit for the third quarter alone stood at GH¢69.30 million.
Finance charges fell to GH¢15.25 million from GH¢22.38 million, offering some relief. Profit before income tax settled at GH¢233.44 million, down from GH¢288.47 million. Income tax expense also declined to GH¢48.59 million from GH¢75.96 million.
On the balance sheet, total assets grew to GH¢2.12 billion from GH¢1.79 billion. Total equity strengthened to GH¢908.33 million from GH¢751.73 million a year earlier, supported by retained earnings of GH¢632.27 million. Cash and bank balances rose to GH¢226.62 million from GH¢140.46 million. The company paid dividends of GH¢28.25 million during the period.
Net cash generated from operating activities improved to GH¢271.98 million from GH¢190.93 million, reflecting stronger working capital management despite the operational headwinds.
