Guinness Ghana Breweries Limited (GGBL) updated its shareholders on the Company’s financial performance for the year ended 30 June 2014 at its 42nd Annual General Meeting held at the African Regent Hotel in Accra.
Chairman of the Board, David Harlock outlined a number of challenges faced by the business and wider industry during the period under review.
These included the deterioration in the Ghanaian economy charaterised by the steep increase in the rate of inflation and unprecedented fall in the value of the cedi against major international currencies, dampening of demand and the continued erratic supply of utilities.
"Despite these macroeconomic challenges however, we are confident of the future prospects for our business. In the year under review, we continued pursuing our vision of becoming the most vibrant and iconic business in Ghana with focus on six strategic areas:
-- Strengthening and accelerating our premium core brands,
-- Winning in Reserve,
-- Innovating at scale to meet new consumer needs,
-- Route to consumer,
-- Driving out costs to invest in growth and
-- Guaranteeing our plans with the right people and capabilities”, Mr. Harlock said.
He adds that Guinness Ghana is already beginning to see positive results from these focus areas and we are confident that the leaders of this business with the support of our shareholders, will grow our business to new heights on the back of these strategic areas.