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: Beer

Champion Breweries suffers profit decline in Q1 despite sales growth

Champion Breweries Plc, said on Thursday that first quarter revenue (Jan – Mar 2017) grew 27% to N1.1bn, up from N872m in 2016.

Despite the sales growth, the firm which is Heineken controlled said that net profit fell 31% to nearly N40bn due to higher production costs caused by inflation and a weakened naira.

Cost of sales rose 46.2% in the period to N886m, from N606m in the previous year.

Guinness Nigeria stung by currency woes as firm declares fourth consecutive loss

Guinness Nigeria Plc on Wednesday reported a strong revenue growth of 29% to ₦90bn in the 9-months to 31 March 2017, up from ₦70bn in the previous year.

However, the company was stung by an inflationary environment and continuing currency devaluation which drove up the cost of goods sold by 47% to ₦60bn. A higher net finance cost that rose 177% to ₦6.7bn due to unrealized foreign exchange loss added to the brewer’s woes

Nigerian Breweries seeks increase in local raw materials sourcing to improve earnings

Nigerian Breweries Plc, said it would ramp up efforts to source local raw materials as well as look for further improvements in its sorghum value-chain as a way of lessening the impact of foreign exchange challenges it faced during the 2016 financial year.

The country’s largest brewer added that it would be consolidating its earnings and profitability through improved market penetration with its innovative products, noting that it would carefully look at its price adjustment mechanism to ensure a balance in the management of input costs and price consumers are willing to pay for its products.

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

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.

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

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.

Heineken posts slight volume increase in Q1 amid continued macroeconomic challenges

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.

AB InBev to export African beer brands across the globe

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.

Sesan Sobowale, long-serving Director at Guinness Nigeria resigns post

Sesan Sobowale, long-serving director at Guinness Nigeria Plc and its Corporate Relations Director is said to have left the company.

The former face of Guinness Nigeria, who left the company two weeks ago, is said to have mutually agreed to part ways with the brewing company. There has been no word from the beverage giant on his replacement.

Sobowale spent 12 years at Guinness Nigeria, having joined the company in April 2005 as its Corporate Secretary.

Beta Glass maintains momentum as year-end profit surge 91%

Beta Glass Plc, the glass container and metal crowns company on Friday reported its results for the 2016 financial year, with the firm maintaining the same momentum it experienced in the first nine months of the year.

The company said that full year profit grew 91% to N3.8bn, from nearly N2bn in the previous year, driven by a surge in local demand as foreign exchange headwinds force a drop in imports.

Heineken officially commissions Ivory Coast brewery

Heineken officially opened its Ivorian brewery, Brassivoire, a joint-venture partnership between the Dutch brewer and CFAO.

The event was graced by top Ivorian government officials, including the Vice President, Mr. Daniel Kablan Duncan and the Prime Minister, Mr. Amadou Gon Coulibaly. Also in attendance were the CEO of Heineken, Mr. Jean-Francois van Boxmeer and representatives of CFAO, among others.