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Guinness Nigeria pre-tax profit falls 16.5 pct, cuts dividend

Reuters
A pint of Guinness beer is seen outside a pub in London August 28, 2008. REUTERS/Luke MacGregor (Reuters)

LAGOS (Reuters) - Guinness Nigeria, a unit of Diageo, said on Tuesday its full-year pre-tax profit to June 30 fell by 16.5 percent to 17 billion naira, from 20.38 billion naira the previous year. The brewer also cut its dividend to 7 naira per share, compared with the 8 naira per share it paid out for the previous year. Gross earnings however rose slightly to 131.41 billion naira, compared with 126.28 billion naira during the same period last year, the company said in a filing with the Nigerian Stock Exchange.