Market Watch: Guinness Nigeria pre-tax profit rises, Total falls

Guinness Nigeria, a unit of Diageo, said on Thursday its first quarter pre-tax profit to September 30, rose 5.4 percent to N1.96 billion ($11.85 million), from N1.86 billion a year ago.

Guinness Nigeria’s revenue however, declined to N21.04 billion, compared with N22.41 billion in the same period a year ago, the company said in a filing with the Nigerian Stock Exchange.

Total Nigeria 9-month pre-tax profit falls

Total Nigeria, the local unit of French oil major Total, said on Thursday its nine month pretax profit fell 18 percent to 4.2 billion naira ($25.38 million) from 5.14 billion naira last year.

Turnover however rose to 177.81 billion naira, from 174.33 billion naira a year ago, the company said in the filing through the Nigeria Stock Exchange.