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Wednesday, March 22, 2023

Golden Guinea Breweries Reports N18m Profit in Six Months

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Golden Guinea Breweries which operates mostly in the Eastern part of Nigeria has recorded an N18.8 million profit in the six months’ period to September, 2020.

The beer and beverage maker had revenues of N424.1 million for the period and cost of goods sold of N127 million leading to gross profits of N296.6 million.

Total assets of the firm increased to N7 billion in September 2020, from N4.99 billion in March as a result of an increase in property plant and equipment (PPE) as well as inventories.

The brewer has managed to reduce its outstanding loans owed by 100 percent to a zero balance from N30.9 million in March 2020.

Golden Guinea Plc, is a public company listed on the Nigerian Stock Exchange (NSE). The principal activities of the company are brewing, bottling and marketing of Golden Guinea larger beer, Golden Guinea malta, Eagles Stout and Bergedorf lager beer.

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