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Golden Guinea
On this page
Company details
- Legal name
- Golden Guinea Breweries Plc
- Listing
- GOLDBREW on the Nigerian Exchange, active · ISIN NGGOLDBREW01 (observed 2026-10-08)
- Sector
- Not classified (our classification from the stated principal activity)
- Financial year ends
- 31 March
Overview
Year ended 31 March 2024 · audited financial statements, signed / final · source
Read with these figures
- Auditor's emphasis of matter. No emphasis of matter or going-concern paragraph.
Full wording and sources
Auditor's emphasis of matter
No emphasis of matter or going-concern paragraph. Key audit matter 'Reactivation and Principal Business Activities': production was temporarily suspended during the year after machine breakdown and lager production resumed before year end (PDF pp22-23).
Source: Golden Guinea Breweries Plc Financial Statements for the year ended 31st March, 2024 (dated 2024-06-26)
-
Revenue
NGN 83.7 million
83,706,146 NGN units · p26
−31.9% vs 2023
-
Operating profit / (loss)
−NGN 147 million
(146,708,258) NGN units · p26
Change not shown.
-
Profit / (loss) for the year
−NGN 109 million
(109,493,510) NGN units · p26
Change not shown.
-
Total assets
NGN 5.46 billion
5,457,614,288 NGN units · p28
+10.3% vs 2023
-
Total equity
NGN 1.34 billion
1,344,183,945 NGN units · p28
−7.5% vs 2023
-
Cash from operations
NGN 28.1 million
28,128,705 NGN units · p30
Change not shown.
Large amounts are rounded for reading (NGN million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.
Not shown: the prior-year figure is zero or negative.
Financial statements
Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in NGN units unless the row says otherwise; brackets are negative.
† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table
Column sources
- FY to 31 Mar 2024 — audited financial statements, signed / final; reported for the year · source
- FY to 31 Mar 2023 — audited financial statements, signed / final; comparative in the FY to 31 Mar 2024 filing · source
Income statement
| Line (as printed) | FY to 31 Mar 2024Audited financial statementsreported for the year | FY to 31 Mar 2023Audited financial statementscomparative in FY to 31 Mar 2024 filing |
|---|---|---|
| Revenue | 83,706,146 | 122,933,848 |
| Cost of Sales | (28,509,585) | (499,943,867) |
| Gross Profit/(Loss) | 55,196,561 | (377,010,019) |
| Other income | 8,973,040 | 8,237,660 |
| Administrative expenses | (210,877,859) | (231,978,842) |
| Profit/(Loss) from Operating activities | (146,708,258) | (600,751,201) |
| Interest income | –1 | –1 |
| Interest expenses | –1 | –1 |
| Profit/(Loss) before taxation | (146,708,258) | (600,751,201) |
| Taxation | 37,214,748 | 57,551,383 |
| Profit/(Loss) for the year | (109,493,510) | (543,199,819) |
| Other comprehensive income for the year, net of tax | –2 | –2 |
| Total Comprehensive Income/(Loss) | (109,493,510) | (543,199,819) |
- Printed “-”, read as nil: subtotal_arithmetic: is.profit_before_tax.
- Printed “-”, read as nil: subtotal_arithmetic: is.total_comprehensive_income.
Balance sheet
| Line (as printed) | FY to 31 Mar 2024Audited financial statementsreported for the year | FY to 31 Mar 2023Audited financial statementscomparative in FY to 31 Mar 2024 filing |
|---|---|---|
| Property, plant and equipment | 4,023,650,361 | 4,138,624,288 |
| Investment in subsidiary1 | 1,000,000 | 1,000,000 |
| Non-current assets (unlabelled subtotal) | 4,024,650,361 | 4,139,624,288 |
| Inventories | 1,308,960,934 | 715,104,467 |
| Trade and other receivables | 85,544,175 | 82,824,226 |
| Cash and bank balances | 38,458,818 | 11,127,114 |
| Current assets (unlabelled subtotal) | 1,432,963,927 | 809,055,807 |
| Total Assets | 5,457,614,288 | 4,948,680,095 |
| Share capital | 501,672,000 | 501,672,000 |
| Share premium | 836,977,386 | 836,977,386 |
| Revaluation Reserve | 4,531,093,553 | 4,531,093,553 |
| Retained earnings | (4,525,558,994) | (4,416,065,484) |
| Equity (unlabelled subtotal) | 1,344,183,945 | 1,453,677,455 |
| Loans and borrowings | –2 | –2 |
| Deferred taxation3 | (159,885,426) | (122,252,147) |
| Non-current liabilities (unlabelled subtotal) | (159,885,426) | (122,252,147) |
| Trade and other payables | 4,211,146,082 | 3,555,503,631 |
| Current tax payable | 62,169,687 | 61,751,156 |
| Current liabilities (unlabelled subtotal) | 4,273,315,770 | 3,617,254,788 |
| Total Equity and Liabilities | 5,457,614,288 | 4,948,680,095 |
- Printed “-”, read as nil: subtotal_arithmetic: bs.non_current_liabilities.
Notes and alternative reported figures (2)
- “Investment in subsidiary” is an issuer-specific line, not mapped to a shared definition: Note 13: dormant wholly owned subsidiary, not consolidated.
- “Deferred taxation”: mapping to a shared definition is uncertain. Deferred taxation printed as a negative amount within non-current liabilities (note 22); kept as printed.
Cash flow
| Line (as printed) | FY to 31 Mar 2024Audited financial statementsreported for the year | FY to 31 Mar 2023Audited financial statementscomparative in FY to 31 Mar 2024 filing |
|---|---|---|
| Profit/(Loss) for the year1 | (146,708,258) | (600,751,201) |
| Depreciation2 | 115,770,927 | 115,770,927 |
| Net Cash generated activities before changes in working capital3 | (30,937,331) | (484,980,274) |
| Inventories4 | (593,856,466) | (23,412,348) |
| Trade and other receivables5 | (2,719,949) | 27,163,160 |
| Trade and other payables6 | 655,642,451 | 475,384,338 |
| Cash generated from operations (unlabelled subtotal) | 28,128,705 | (5,845,124) |
| Tax paid | –7 | (125,000) |
| Net Cash generated in operating activities | 28,128,705 | (5,970,125) |
| Purchase of Property, plant and equipment | (797,000) | –8 |
| Cash used in investing activities | (797,000) | –9 |
| Loans received/(repaid)10 | –11 | –11 |
| Net cash generated from Financing Activities | –9 | –9 |
| Cash and cash equivalent generated during the year | 27,331,705 | (5,970,125) |
| Cash and cash equivalent at the beginning of the year | 11,127,113 | 17,097,238 |
| Cash and cash equivalent at the end of the year | 38,458,818 | 11,127,113 |
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_operations.
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
- Printed “-”, read as nil: subtotal_arithmetic: cf.net_change_in_cash.
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (7)
- “Profit/(Loss) for the year” is an issuer-specific line, not mapped to a shared definition: Cash-flow starting line labelled 'Profit/(Loss) for the year' whose figures equal profit before taxation on p26.
- “Depreciation” is an issuer-specific line, not mapped to a shared definition: Adjustment in operating activities.
- “Net Cash generated activities before changes in working capital” is an issuer-specific line, not mapped to a shared definition: Operating subtotal before working-capital changes.
- “Inventories” is an issuer-specific line, not mapped to a shared definition: Working-capital change.
- “Trade and other receivables” is an issuer-specific line, not mapped to a shared definition: Working-capital change.
- “Trade and other payables” is an issuer-specific line, not mapped to a shared definition: Working-capital change.
- “Loans received/(repaid)” is an issuer-specific line, not mapped to a shared definition: Financing activities; '-' in both years.
Segments
Segment data not yet collected for this company in the pilot.
Dividends
Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.
No dividend statement or amount collected.
Sources
Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.
-
Golden Guinea Breweries Plc Financial Statements for the year ended 31st March, 2024
Year ended 31 March 2024 · Audited financial statements · signed / final
Audit: Mokuolu Rubens & Co (Chartered Accountants), unmodified opinion · signed
Auditor's sign-off: Johnson Chinedum Iwoh, Engagement Partner, for Mokuolu Rubens & Co
Final status: Report of the independent auditors closes with 'Signed:', a handwritten signature above 'Johnson Chinedum Iwoh, Engagement Partner, FRC/2014/ICAN/000000009595, For: Mokuolu Rubens & Co', the ICAN stamp and 'Lagos, Nigeria, June 26, 2024' (PDF p25, page image). The statements were approved by the Board on June 26, 2024 and signed by the Chairman, the Ag. Managing Director and the Chief Finance Officer, signatures visible (PDF p28, page image).
- Document date
- 26 Jun 2024
- Published
- 2 Aug 2024
- Auditor's report
- 26 Jun 2024
- Board approval
- 26 Jun 2024
- Retrieved by us
- 8 Oct 2026 (not a publication date)
- Used for
- statement columns FY to 31 Mar 2024, FY to 31 Mar 2023
- Basis
- company statements · NGN units (printed “N”)
- The cash-flow statement prints 2023 closing cash (and 2024 opening cash) as 11,127,113 whereas the balance sheet and note 16 print 11,127,114 (p30, p28, p47): a N1 difference, kept as printed.
- Deferred taxation is printed as a negative amount ((159,885,426); 2023: (122,252,147)) within non-current liabilities (p28). Non-current assets, current assets, equity, non-current and current liabilities totals are unlabelled and no total-liabilities line is printed (p28). The cash-flow starting line 'Profit/(Loss) for the year' prints the profit-before-taxation figures (p30). Current liabilities print 4,273,315,770 against 4,273,315,769 for the two lines (rounding).
- Unconsolidated dormant subsidiary Goldfields Agricultural Investments Limited (note 13, p47).
Technical details
- File
- 64 pages, with a text layer
- SHA-256
721664264e588d57adc9b3ff05ee8f84c34cc88be4e374f789822437a45e5157- Entity as printed
- Golden Guinea Breweries Plc ("the Company"), RC 3164
- Exchange copy
- retrieved 2026-10-08T18:08:51Z
Data notes
No figure-level notes beyond those in the tables.
Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.
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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.