Monthly Archives: January 2018

Mounting losses at Seven-Up lead to ₦10.3bn loss in nine months

Seven-Up Bottling Company Plc (“SBC”) reported its nine months results on Tuesday, with the ailing company posting a net loss of ₦10.3bn, a 113% increase from the ₦4.8bn loss it recorded in the previous year.

The company, which recently exited the Nigerian Stock Exchange over its continued dismal performance in recent years, said that revenue grew 9.75% to ₦83.2bn in the nine months to the end of December. In the same period in 2017, the company recorded ₦76bn in sales.

Guinness Nigeria posts 19% rise in half-year sales

Guinness Nigeria Plc said on Tuesday that half-year sales for the 2017/18 financial year through 31 December 2017 grew 18.6% to ₦70.6bn from ₦60bn in the same period in 2016.

The company behind iconic brands Guinness Foreign Extra Stout and Harp Lager among others said that it recorded ₦2.1bn in profit for the period, from a loss of ₦4.7bn in the prior year. Guinness saw double-digit gains in its value beer segment, driven by Dubic Lager and a 22% sales boost from its mainstream spirits, driven by innovation launches and new formats.

Malta Guinness to launch Pan-African TV game show, ‘maltavator’ challenge

Malta Guinness, a malt brand from the stables of Guinness Nigeria Plc, is set to launch a pan-African TV show tagged the ‘Maltavator’ challenge that will see home-grown Nigerian talents compete against contestants from Ethiopia, Ghana and Ivory Coast.

According to a statement from the beverage maker, the Maltavator challenge will comprise 40 contestants and will challenge consumers physically and mentally through an assortment of games and obstacles, with twist and turns that will keep participants on the edge.

Heineken, Global Fund team-up to fight HIV, Tuberculosis and Malaria in Africa

Beer giant Heineken NV has joined forces with Global Fund, a government, civil society and private sector group to fight the spread of HIV, tuberculosis and malaria epidemics in Africa.

Heineken said it will provide its expertise in the areas of logistics and communications to support the Global Fund in better reaching specific demographic groups that are most at risk of HIV, tuberculosis and malaria.

Diageo hails its first-half results despite worries of potential year-end currency headwinds

Diageo Plc, reported its first-half results on Thursday for period ending 31 December 2017, with the drinks maker recording a 1.7% sales lift to £6.5bn ($9.3bn) from last year’s £6.4bn.

Net profits attributable to the company’s shareholders surged 36% to £2bn, helped by a combined effect of increased marketing spend of 7%, reduction in net finance charges and a broad-based organic growth across all regions

FIFA, Coca-Cola kick-off World Cup Trophy Tour

FIFA World Cup Trophy Tour by Coca-Cola flagged-off on Monday with an official launch ceremony in London, with former FIFA World Cup winners Sir Geoff Hurst of England and Andrea Pirlo of Italy on hand to send the FIFA World Cup Trophy on its worldwide journey.

Guinness Ireland launches non-alcoholic Lager beer

Guinness Ireland has unveiled its first non-alcoholic lager beer as it looks to tap into a growing consumer trend of declining alcohol consumption or no alcohol consumption.

The new creation which is called ‘Pure Brew’ was developed at Diageo’s Open Gate experimental brewery at St. Jame’s Gate in Dublin. According to Guinness, the beer will be unveiled to 250 pubs in the Irish capital this January and to the rest of the country from March.

Coca-Cola commits to 100% recycled packaging by 2030

Soft drinks giant Coca-Cola announced on Friday an ambitious goal to recycle every bottle or can it produces by 2030.

The firm which operates in over 200 countries and markets more than 500 brands of soft drinks, juices, water and tea admitted its part in littering the environment and a responsibility to tackle the problem.

In a statement released by the company’s chief executive officer, James Quincey, he said “The world has a packaging problem and, like all companies, we have a responsibility to help solve it,” he said.

Rémy Cointreau nine months results bolstered by robust Cognac sales in Asia Pacific

Rémy Cointreau Group on Friday reported a 3% revenue growth for the first nine months of its 2017/18 financial year ending in December. Sales rose to €862.1 million from €836.7 million, helped by robust growth of its Rémy Martin cognac brand which posted a 7.9% growth to €576.6m, contributing 67% of the overall group’s sales.

The group benefitted from continued growth of the Rémy Martin cognac brands in the Asia Pacific region, despite a high basis of comparison in the third quarter and the late timing of 2018 Chinese New Year (sales delayed to the fourth quarter). The Chinese New Year starts on February 16 this year, delaying its positive impact on sales to Remy Cointreau’s fourth quarter.

Diageo to trademark ‘Jane Walker’

Diageo is keeping mum on reports that it is planning to unveil a new Scotch whisky under the ‘Jane Walker’ name.

According to a report by US celebrity news site TMZ, the Johnnie Walker maker “filed paperwork in early January to trademark the name Jane Walker for alcoholic beverages except beer”. A spokesperson for Diageo would not comment on the story except to say “If and when we have more to say – we’ll let you know.”