Monthly Archives: February 2017

Beam Suntory spirits line deliver strong results despite drop in segment revenue

Beam Suntory, the spirits arm of Japanese group Suntory Holdings, said that revenue in 2016 financial year grew in the mid-single digit.

However, net sales for the alcoholic beverages segment which includes wine, beer and spirits declined 3.6% to ¥988.7bn yen ($8.69bn) year-on-year. The company noted that the spirits division performed strongly, driven by robust growth for brands such as Jim Beam, Maker’s Mark, Hornitos tequila, Japanese ready-to-drink products and premium and scotch whiskies.

Suntory Food & Beverage ends year on a high note

Suntory Food & Beverage Limited, reported its full year results, with sales increasing 2.1% to ¥1.4 trillion yen ($12.3bn).

The maker of Lucozade and Ribena said it achieved higher revenue growth as a result of aggressive marketing and cost reduction initiatives it carried out on its main brands.

Pharma Deko seeks liquidation of Guinness Nigeria over debt claims

Pharma Deko Plc, a pharmaceutical company has filed a petition at the Federal High Court in Lagos seeking liquidation of Guinness Nigeria Plc as an ongoing business concern over alleged ₦176m debt claim.

The petition, which is before Justice Hadizat Rabiu-Shagari would be heard on 28 March, 2017.

Angostura appoints Genevieve Jodhan new CEO

Trinidad & Tobago-based Angostura Holdings, known for its world acclaimed bitters and rums has confirmed the elevation of its acting CEO Genevieve Jodhan to a permanent CEO role.

Ms. Jodhan assumed the role of acting CEO since September after the company placed its CEO Robert Wong on administrative leave following a local press report that allegedly claimed the company’s rum production was being “audited”.

Guinness Nigeria refutes Pharma Deko’s debt claims

Guinness Nigeria Plc, in a statement released to the media on Friday said it had responded to a court process initiated by Pharma Deko Plc, a pharmaceutical company, which alleges that the brewer owes it N176m representing an arbitral court award made against the company and in favour of Pharma Deko. The suit also suggests that Guinness Nigeria is unable to pay the debt.

Revenue growth initiatives, cost efficiencies lift Coca-Cola HBC profit

Coca-Cola HBC, the parent company of Nigerian Bottling Company (NBC) reported its full-year results on Thursday for the 2016 financial year, with revenue falling 2% to €6.2bn ($6.6bn) despite a 1% volume increase.

The company which is the Coca-Cola anchor bottler in 28 mostly European countries and Nigeria said that adverse currency movements caused the decline.

PepsiCo’s full-year results boosted by North American business unit

PepsiCo on Wednesday reported its fourth quarter and full-year results for 2016, with Q4 revenue rising 5% to $19.5bn, while full year sales came in flat.

The soft drinks giant said that the positive results in the fourth quarter and full year were helped by productivity gains and the impact of efficiency initiatives and lower raw material costs.

Guinness Nigeria releases 2016 Sustainability Report; Outlines future goals

Guinness Nigeria Plc, on Wednesday released its 2016 Sustainability Report, which provides information on the company’s performance on various aspects of its operations and sets out its sustainability goals for the future.

Heineken full-year results lifted by strong growth in Mexico, Vietnam

Heineken N.V. on Wednesday reported a 1.4% rise in revenue for the 2016 financial year (Jan – Dec) to €20.8bn ($21.94bn) compared to €20.5bn in 2015. The company said its revenue was bolstered by strong sales in Vietnam and Mexico. It noted that it sold 3% more beer in 2016 with the biggest increase coming from Asia.

The Dutch brewer said that sales also rose in Europe, especially in France, Italy, Poland, Spain and Mexico, which offset declines in Nigeria, the Democratic Republic of Congo (DRC) and Russia, where it has been battling macroeconomic headwinds.

Heineken buys Kirin’s Brazil unit

Heineken N.V said on Monday it has agreed to acquire the loss making business of Japanese brewer Kirin Holdings Limited Brazil unit for $706m. Including debt, the Dutch brewer said it would pay €1.025bn for the transaction.

Kirin said it was exiting the Brazilian beer market citing a “stagnant and competitive” market.

Considering various risks associated with (the) Brazilian economy and (the) stagnant and competitive situation in (the) Brazilian beer and soft drink markets, Kirin has come to the conclusion that there are certain limitations in transforming Brasil Kirin into a sustainable and high-profitable business on its own,” it said in a statement.