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GIRLS ARE ANGRY| AGAIN ANOTHER GIRL POISON 4 GUYS WITH PEPPER SOUP, ALL BECAUSE OF THIS… CLICK THE LINK VIEW THE FULL FACT.Shares of the indigenous company, Golden Guinea Breweries Plc, have surged by over 40% week-to-date on the Nigerian Exchange, following an impressive streak of nine positive trading days. ...Tap To Read The Full Story Here | ..Tap To Read The Full Story Here...
The rally comes after Golden Guinea’s Q3 2024 results reported a nine-month revenue of N267.3 million, a significant increase from N1.4 million in the same period in 2023, primarily driven by beverage sales.
Additionally, the company recorded earnings from “other income,” including N5.7 million generated from the sale of cullets (waste glass used in glass production), highlighting efforts to diversify its revenue streams.
Before the release of its financial report, Golden Guinea Breweries Plc secured a major court victory in the first half of 2024, affirming its ownership of the Eagle Stout trademark after a six-year legal battle.
The company was also granted an extension by NGX Regulation to meet free float requirements in September, ensuring better market liquidity and share distribution.
These fundamental events have likely fueled a 60% month-to-date surge in Golden Guinea’s stock, bringing year-to-date performance to over 100%.
Market Trend
- Golden Brew stock remained largely stagnant through the first and second quarters of 2024, characterized by minimal price movement and low trading volumes.
- However, October marked a turning point as the stock saw renewed activity, trading 679,754 shares during the month and closing at N3.74, up from its opening price of N3.15.
- After a brief dip in November, where the stock edged slightly lower to N3.70, momentum picked up again in December.
As of mid-December, the stock has skyrocketed by over 60%, lifting its year-to-date performance to over 100%.GIRLS ARE ANGRY| AGAIN ANOTHER GIRL POISON 4 GUYS WITH PEPPER SOUP, ALL BECAUSE OF THIS… CLICK THE LINK VIEW THE FULL FACT.
Legal Triumph
In the first half of 2024, the Federal High Court in Port Harcourt delivered a significant legal victory to Golden Guinea Breweries Plc, ordering International Breweries Plc and Anheuser Busch InBev (AB InBev) to cease infringing on and interfering with the registered trademark of Eagle Stout.
- This ruling stems from a lawsuit filed by Golden Guinea Breweries in 2018, seeking N10 billion in general damages from Pabod Breweries Limited, a company in which AB InBev holds controlling equity.
- The suit alleged that Pabod Breweries infringed on Golden Guinea’s trademark to produce Eagle Stout.
- Golden Guinea also petitioned the court to affirm its status as the sole proprietor of the “Eagle Stout” trademark, registered as No. 21153 in Class 32 at the Nigerian Trade Marks Registry, granting exclusive rights to produce, sell, and distribute the product within Nigeria.
After nearly six years of legal proceedings, the court ruled in favor of Golden Guinea in early 2024, solidifying its ownership of the Eagle Stout trademark.
About the Company
- Golden Guinea Breweries Plc specializes in brewing, packaging, marketing, and distributing lager beer, malta, and stout within Nigeria.
- Established in 1962 and headquartered in Umuahia, Nigeria, the company operates as a subsidiary of Pan Marine Investments Limited.GIRLS ARE ANGRY| AGAIN ANOTHER GIRL POISON 4 GUYS WITH PEPPER SOUP, ALL BECAUSE OF THIS… CLICK THE LINK VIEW THE FULL FACT.
- Recently, Golden Guinea Breweries Plc was granted an extension by NGX Regulation to meet free float requirements, designed to ensure adequate public trading of shares and prevent excessive share concentration..…Read -T.he.Full_Article.Here.
