Monthly Archives: April 2015

Guinness Nigeria appoints a new MD

Guinness Nigeria Plc, a subsidiary of Diageo Plc has appointed a new Managing Director, Mr. Soren Lauridsen to succeed Mr. John Okeeffe, who has been promoted to President, Diageo Africa.

A statement from the company says O’Keeffe will now join Daigeo Executive Committee and report to Dr. Nick Blazquez, President Africa and Asia.

O’Keeffe’s new appointment will start in July.

Chi Limited adds 25% extra milk to Hollandia

Chi Limited, makers of the Hollandia evaporated milk brand says it has added 25 percent more milk to the brand.

This was disclosed by the Managing Director of the company, Mr. Deepanjan Roy in a statement where he said “we want to draw consumers attention to the 25 percent extra milk in Hollandia Evaporated milk 215 gram pack when compared to other competing brands at the same price.”

PZ Cussons buys-out Glanbia stake in Nutricima Joint Venture

PZ Cussons Plc, makers of Nunu, Olympic and Yo brands announced that it has acquired the remaining 50 percent stake held by Glanbia in the Nutricima joint venture between both companies.

It paid £21 million in cash, giving PZ Cussons complete ownership of Nutricima. PZ Cussons has also entered into a new long-term agreement with Glanbia Ingredients Ireland for the supply of milk-based products to Nutricima.

Troubled times at Cadbury as profits dip on economic headwinds

Cadbury Nigeria Plc, makers of Bournvita and other fast moving consumables saw a decline in its profit by 75 percent for the year ended December 2014.

The company’s income statement shows a drop in net income by 75 percent to N1.51bn from N6.02bn the same period of the prior year (FY 2013). Sales also slipped by 15 percent to N30.51bn.

Earnings per share (EPS) declined by 61 percent to 75k in 2014 fiscal period versus 192k in fiscal 2013 year end.

Diageo takes full ownership of South Africa’s United National Breweries

Diageo Plc has taken full control of South Africa’s United National Breweries after acquiring the remaining 50% stake in the company.

London-based Diageo said it paid £14.8m ($22m) to acquire the remaining 50% stake in UNB. It also agreed to pay an additional $14m if UNB met certain future earning goals.