Golden Guinea Breweries loses N198.10m in 2021, 40% decreased in YoY

By Philemon Adedeji

Golden Guinea Breweries PLC on Thursday declared 40 per cent decrease in profit in its nine months results for the period ended as at December 31, 2022.

The group on the Nigeria exchange limited (NGX) reported N296.9million profit in nine months of 2021 from N495.1million profit in nine months of 2020.

Also, the group reported 39.5 per cent decrease in profit before tax in its nine months of 2021 from N295.7million to N488.8million declared in its nine months of 2020.

According to the profit and loss figures, the group revenue decreased from N250.1million in its nine months of 2021 to N1.255billion reported in its nine months of 2020, this shows decrease of 80 per cent.

The gross reported, an increase from N220.7million in its nine months of 2021 from N142.3million reported in  2020, an increase of 55.1 per cent.