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Nigeria’s Guinness announces 5 percent rise in profit

Guinness Nigeria, a unit of Diageo, said on Thursday its full-year profit to June 2010 rose 5.24 percent to 19.98 billion naira compared to 18.99 billion naira last year.

Guinness said in a stock exchange filing its gross earnings also rose to 109.36 billion naira in the same period against 89.15 billion naira in the comparative period of last year.

The company had earlier announced a proposed dividend of 8.25 naira per share.