Daily Archives: March 3, 2017

Brazil slump weighs on AB InBev’s earnings

Leuven, Belgium-based Anheuser-Busch InBev said on Thursday that a weakened economy in Brazil, its second largest market had depressed its full year earnings.

The world’s largest beer maker noted that consumer purchasing power in Brazil continues to fall amid high unemployment rate, a difficult situation consumer goods companies are facing in that country. Despite the macroeconomic challenges, the brewer said it grew revenue 2.4% to $45.52bn in 2016, with revenue per hectoliter rising 4.5%, largely driven by revenue management initiatives and brand mix as it continues to implement premiumization strategies. However, it said that total beer volumes declined by 2%, with own beer volumes down 1.4% and non-beer volumes down 6.2%.

Record FX loss, inflation push down Nigerian Breweries profit for the year

Nigerian Breweries Plc, said on Monday that profit for its 2016 full financial year fell 25%, reflecting a tough macroeconomic environment in the country.

The maker of Star Lager and Gulder said that despite sales growth of 6.7%, a combined effect of rising inflation and the devaluation of the naira reduced the company’s net income by 25%. It noted that revenue grew to N341bn in 2016, up from N294bn in the preceding year.

Ben Langat appointed Managing Director FrieslandCampina WAMCO Nigeria PLC

Ben Langat has been appointed Managing Director of FrieslandCampina WAMCO Nigeria PLC with effect from 13 March 2017. He will report to Roel van Neerbos, Chief Operating Officer, Consumer Products Europe, Middle East and Africa, and he will be located in Lagos, Nigeria.

Until June 2016, Langat was the Managing Director of Nigerian Bottling Company Limited, Coca Cola Hellenic Bottling Company where he led major business transformation, route to market plan growing volumes and market share and delivered double digit growth despite economic challenges. He further expanded the business into new categories including the successful launch of Pulpy. He developed a strong talented team for the business over the period.