By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Brewing Giant, Guinness Nigeria Plc, said on Tuesday its first quarter (Q1) post-tax profit for the period ended September 30, 2013 fell by -3.5 percent (3.5%).

To record the fall in post-tax profit, the company recorded N1.743 billion compared to N1.807 billion recorded in the same period of 2012; indicating a fall in post-tax profit of -3.5%.

Similarly, pre-tax profit also declined from N2.657 billion in the Q1 of 2012 to N1868 billion in the corresponding period of 2013; showing a decline of -30% in the review period.

Also, Guinness Nigeria’s gross earnings dipped from N23.692 billion in the Q1 of 2012 to N22.409 billion in the same period of  2013; representing a dip of -5.4%.