Guinness Nigeria says full-year pretax profit falls 8 pct

Guinness Nigeria reported an 8 percent drop in its full-year pretax profit to N10.8 billion ($54.3 million), the local unit of Diageo said on Friday.

However, revenue rose 9 percent to N118.5 billion in the 12 months to June 30, year-on-year, the company said.

It proposed to pay out N4.8 billion in dividends from its profits.

Consumer goods firms have been hit in Nigeria as consumption slows as a result of lower oil prices and a weakening naira.

Companies have also been affected by higher costs arising from a lower naira.