Monthly Archives: April 2017

Governor El-Rufai lauds Nigerian Breweries for its economic and social support in Kaduna State

April 21, 2017   Editor   No comments

Kaduna State Governor, Mallam Nasir Ahmad el-Rufai, has commended the Nigerian Breweries Plc for its role in the economic development of the state, noting that the brewer is the largest tax payer in Kaduna.

The governor who was at the recently concluded Kaduna Economic and Investment Summit (KadInvest 2.0) had stopped by Nigerian Breweries stand, and said that the brewer plays a big role in the state as far as investment and economic development are concerned and remains a concrete testimony of the friendly business and investment environment the state is promoting.

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Price increases, cost efficiencies help lift Nigerian Breweries first quarter result

April 21, 2017   Editor   No comments

Nigerian Breweries Plc hailed a strong first quarter as price increases of its products and cost efficiencies it implemented helped the brewer start the year on a strong footing as sales climbed 18% to N91bn, and net profit surged nearly 10% to N11.4bn, from N10.4bn a year earlier.

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Cognac sales in Asia boosts Remy Cointreau’s year-end results 4.2%

April 20, 2017   Editor   No comments

French Spirits group Remy Cointreau on Wednesday reported its full-year results for the 2016/2017 financial year, which ended on March 31. Total revenue grew 4.2% to €1.09bn ($1.2bn).

The company which publishes its profit figures on June 8 credits its year-end robust growth to group brands, led by the House of Remy Martin, the company’s revenue driver, accounting for over half of its revenue and recording a 9.2% sales growth to €707.5m.  The liqueurs and spirits segment rose 0.9% to €276.3m in the period.

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Heineken posts slight volume increase in Q1 amid continued macroeconomic challenges

April 19, 2017   Editor   No comments

Heineken N.V reported its first quarter 2017 results on Wednesday, posting a slight beer volume increase of 0.6% due to strong sales in Asia and Europe.

The world’s second largest brewer which reported €293m in profit in the first three months of 2017 compared to €265m a year earlier saw its sharpest beer volume increase in Asia Pacific region, with a 5.4% growth led by Cambodia, and a modest increase of 0.5% in Europe, driven by improvements in France, Spain, the Netherlands, Italy and Austria.

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Ebonyi State bans serving of Coca-Cola branded Soft drinks at State functions

April 19, 2017   Editor   No comments

The Ebonyi State Government has become the first State in Nigeria to restrict the consumption of Coca-Cola products in the state.

Concerned with the recent ruling by a Lagos State High Court against the National Agency for Food and Drug Administration and Control (NAFDAC) and the Nigerian Bottling Company (NBC) on the alleged health effects of consuming Fanta and Sprite, Ebonyi State Governor, David Umahi on Tuesday issued an order, banning the serving and consumption of Coke, Sprite and Fanta at government functions in the state.

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CPC gets new head in major agency shake-up

April 14, 2017   Editor   No comments

President Muhammadu Buhari has replaced the Director-General of the Consumer Protection Council (CPC) and 22 other Federal Government agencies in what appears to be a major agency shake-up.

The CPC was formerly headed by Mrs. Dupe Atoki, who earlier this week released the results of her agency’s investigation on the level of additives contained in soft drinks produced in Nigeria.

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Suntory defends integrity of its brands – Lucozade

April 14, 2017   Editor   No comments

Suntory Beverage & Food Nigeria Limited, makers of Lucozade has guaranteed its customers that Lucozade does not contain benzoic acid as stated in a recent laboratory report by the Consumer Protection Council (CPC). The company went on to say that its products are safe and healthy for human consumption.

The beverage giant, which took control of Lucozade and Ribena brands from GlaxoSmithKline Consumer Nigeria Plc (“GSK Nigeria Plc”) last year said it became necessary to clarify the contents of its drink after media reports claimed that laboratory analysis conducted by the CPC showed high levels of benzoic acid in Lucozade, above the Nigerian Industrial Standard (NIS) which is 250mg per kg.

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Fijabi Adebo appeals court ruling, seeks compensatory damage from NBC

April 13, 2017   Editor   No comments

Fijabi Adebo, the man at the center of the Fanta, Sprite High Court ruling has appealed the lower court’s judgement to an appellate Court seeking unspecified damages from the Nigerian Bottling Company (“NBC”).

In the appeal filed at a Lagos Apellate Court, his counsel, Mr. Abiodun Onidare, argued that the trial judge failed to award damages and grant the reliefs sought by the petitioner, Fijabi Adebo and his firm Fijabi Adebo Holdings Limited against NBC.

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AB InBev completes sale of Distell stake

April 13, 2017   Editor   No comments

Anheuser-Busch InBev said on Wednesday that it has completed the sale of its indirect shareholding in South Africa’s Distell Group, the continent’s largest wine and spirits producer to the country’s Public Investment Corporation (PIC), a state owned corporation that manages the government’s Employee Pension Fund.

The financial terms of the deal were not disclosed.

“The sale was required as a condition of the South African Competition Tribunal’s approval on 30 June 2016 of the business combination between AB InBev and SABMiller,” AB InBev said in a statement.

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AB InBev to export African beer brands across the globe

April 13, 2017   Editor   1 Comment

Anheuser-Busch InBev said on Wednesday it plans to introduce African beer brands to its markets around the world as it seeks to make the most of its decision to acquire SABMiller.

“There are so many very unique African brands and I think it is time to sell African beers to the greater market,” said Ricardo Tadeu, Head of AB InBev’s African Operations.

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