Prices of soft drinks rise amid FX woes, inflationary pressure

Prices of soft drinks are on the rise as the industry continues to grapple with the fallout from macroeconomic headwinds induced by the drop in oil price. Nigerian Bottling Company (NBC), the More »

How brewers are selling beer with folklore

As Nigeria’s recession deepens and consumers pockets are squeezed, majority of those still drinking have shifted their beer preferences to value or low cost brands. Nigerian Breweries Plc, the country’s leading brewer More »

Category Archives: News

Maltonic is back in the market after six years absence

Maltonic, a malt drink originally produced by Sona Breweries is back in the market after six years absence.

The brand first made its debut in 1986 as a drink fortified with vitamin C, the company said in a statement.

The drink went dormant in 2011 after the sale of Sona Breweries beer assets to Nigerian Breweries Plc. The ownership of Maltonic was transferred to Euro Global Foods and Distilleries Limited, a unit of Sona Group.

Coca-Cola HBC Q3 sales boosted by volume growth

Coca-Cola HBC said on Thursday that net sales revenue in the third quarter grew by 5%, driven by a 3.4% volume growth across a broad range of countries.

The Coca-Cola anchor bottler in 28 mostly European countries and Nigeria said that the overall volume increase is a testament to the strength of its execution across its markets.

Net sales in the third quarter hit €1.8bn and €5.04bn in the nine months to the end of September, a 5.4% increase from the previous year.

Guinness Nigeria, FRSC partner to train drivers

Guinness Nigeria Plc, in partnership with the Federal Road Safety Commission (FRSC) is set to organize a structured training programme for new drivers undergoing licensing by sensitizing them on road safety rules.

The Managing Director of Guinness Nigeria, Mr. Peter Ndegwa, made this known during a press briefing to commence the 2017 FRSC/Guinness campaign for responsive drinking during the ember months.

Global and regional priority brands lift Gruppo Campari’s nine months results

Italian spirits firm Gruppo Campari reported a €1.27bn in revenue for the nine months to the end of September, an 8.1% increase over the previous year.

The company behind brands such as Campari, Skyy vodka, Aperol, among others credits its sales growth to the performance of its high margin global and regional priority brands as well as a slightly positive exchange rate effect of 0.3%, driven by the progressive strengthening of the Euro against many of the group’s trading currencies.

The company said it also benefitted from the combined perimeter effect of the Grand Marnier acquisition in July 2016, the termination of some distribution agreements and the sale of non-core businesses.

International Breweries narrows loss in half-year

Ilesha-based International Breweries Plc said its losses in the first-half of the year (Apr – Sept) narrowed to N52m, from ₦1.9bn in the previous year.

The brewer blamed the loss on unrealized foreign exchange loss which skyrocketed 894% in the six months to ₦983m ($2.7 million). The maker of Trophy lager said it had a particularly difficult second quarter as much of the FX loss came from this period, rising 4,238% to ₦945m ($2.6 million). The net loss in Q2 was even far much greater, at ₦1.2bn, from ₦216m.

Tasty Time MD arrested for manufacture of unregistered beverages

The Managing Director of Tasty Time Nigeria Ltd, Isaac Kole, was arrested on Thursday and arraigned before a Federal High Court in Lagos over alleged manufacture of fake and unregistered products.

The National Agency for Food and Drug Administration and Control (NAFDAC) arraigned the accused alongside his company on a four-count charge bordering on producing fake products.

Champion Breweries records 57% profit growth in nine months

Champion Breweries Plc said on Tuesday that net profit for the nine months to the end of September grew 57% to ₦152m ($419,000), up from ₦97m ($267,000) in 2016.

The Akwa Ibom-based brewer said that profit growth was helped by a 25% sales lift which reached ₦3.3bn ($9 million) from ₦2.7bn ($7.4 million) in the previous year. Cost of sales grew marginally at 13.5% to ₦2.5bn ($6.9 million), helping boost Gross profit 58% and Operating Profit 73% to ₦171m ($471,000).

Seven-Up losses widen in half-year as finance cost bites

Seven-Up Bottling Company Plc (“SBC”) on Tuesday reported its half-year results for April through September, with the soft drinks maker posting a record loss of ₦6.2bn ($17 million), a 302% increase from last year’s loss of ₦1.6bn ($4.4 million).

The company blames its misfortune on skyrocketing net finance cost which ballooned to ₦3.6bn ($9.9 million) in the six months to the end of September, a 91% increase from last year’s ₦1.9bn ($5.2 million).

Despite the loss, the company posted an impressive 13.5% increase in sales to ₦53.3bn ($146.8 million) for the period.

Beta Glass nine months profit decline despite sustained revenue growth

Beta Glass Plc reported a 22.7% decline in profit for the nine months to the end of September. Profit dropped to ₦2.2bn blamed on a host of cost increases. This is despite reporting a revenue growth of 12% in the period to ₦14.9bn from ₦13.3bn in the previous year.

The glass bottle and metal crowns company said that the third quarter was particularly challenging for the firm with a 30% increase in cost of sales to ₦4.9bn from ₦3.8bn in the previous year. Selling and distribution expenses also grew 2,371% in Q3 to ₦26m while administrative expenses capped it off, rising 35% to ₦365m.

Heineken to double production capacity in Ivory Coast brewery

Dutch brewer Heineken said on Thursday that it plans to double current production capacity at its newly opened Brassivoire brewery in Ivory Coast by next year with the aim of going head-to-head with French beverage giant Castel which currently dominates the Ivorian beer market.

Beer consumption in Ivory Coast has risen since the end of a decade-long political crisis in 2011. Castel dominates the beer market with its popular Castel, Flag and Solibra Bock brands.