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: Energy drinks

No tariff increase on food items, luxury goods as earlier reported – FG

The Federal Ministry of Finance, on Friday, clarified that import duties on luxury goods and food items have not been raised, as was earlier reported.

In a statement issued by the Director of Information, Salisu Dambatta, the ministry said that contrary to some media reports that tariffs on such items have been raised, the government had no such plans at this critical period.

Dambatta further said that instead of increasing import duties, what the government did was to reduce most of the items based on the fiscal measures for 2016.

Suntory to reduce sugar content in Lucozade and Ribena by 50%

Lucozade and Ribena, two famous brands of Japanese Food and Beverage Company, Suntory said it will cut 50% of the sugar content in its drinks in the UK and Ireland by next summer. The announcement comes ahead of a proposed sugar tax on sweetened beverages set to go into effect in both countries in 2018.

The company said it would reformulate all its drinks to contain less than 4.5g of total sugar per 100ml – the equivalent of one teaspoon. Currently, the drinks contain 13g and 10g of sugar per 100ml serving respectively.

Aggressive marketing, Cost improvements help Suntory Food & Beverage lift sales

Suntory Holdings, the group company that owns Suntory Food and Beverage Limited, said that group revenue fell 0.23% to ¥1.97 trillion yen (approx. $18.7bn) in the first nine months of 2016. However, operating income rose 14.1% to ¥149bn yen ($1.4bn).

Suntory Food and Beverage segment boosted sales 4.4% to ¥1.06 trillion yen ($10bn) in the nine months to September, helped by a strengthening of its brands, creation of new demand for its products, bolstering profitability by reforming its cost structure and improving product quality based on insights from other group companies.

GSK Consumer Nigeria earnings sink amid FX loss

GlaxoSmithKline Consumer Nigeria Plc (“GSK Consumer Nigeria Plc”) on Friday reported a net loss of N4bn for the 9-months ending 30th September 2016.

The company which in October finalized the sale of its drinks business (Lucozade and Ribena) including bottling and distribution to Suntory Beverage and Food Nigeria Limited cited unrealized foreign exchange loss of N6.5bn caused by the impact of Naira devaluation for its poor performance.

Suntory officially takes over Lucozade and Ribena brands

Suntory Beverage & Food Nigeria Limited announced on Tuesday its plans to expand its presence in the Nigerian food and beverage market as the new owners of the beverage brands, Lucozade and Ribena.

The announcement came after the completion of the sale of the drinks, bottling and distribution business by GSK Consumer Nigeria Plc to Japanese global beverage company, Suntory Beverage & Food.

WHO backs controversial sugar tax on sweetened beverages to stem obesity

The World Health Organisation (WHO) said on Tuesday it would support a 20% to 50% tax on sugary drinks by governments as a solution to the global rise in obesity and type-2 diabetes.

The UN agency said the recommended tax should not only be limited to soda but all sugar-sweetened beverages such as sports drinks, energy drinks, fruit punch, sweetened iced tea, vitamin waters and lemonade.

GSK Consumer Nigeria extends deal closure date

GlaxoSmithKline Consumer Nigeria Plc (“GSK Consumer Nigeria Plc”) said on Tuesday it has shifted the closure date to sell its drinks business to Suntory Beverage & Food Nigeria Ltd to 30th September 2016. The transaction was initially expected to close on 31st August 2016.

Sugar tax threatens thousands of jobs, says South African beverage industry

South African beverage industry has come out to oppose the proposed sugar-tax on sweetened beverages in the country, which the government announced earlier in the year and that is expected to come into effect on April 1, 2017. The group said the tax will lead to thousands of industry-wide job loss if implemented.

Currency headwinds dent Suntory’s half-year profits

Suntory Beverage & Food Limited, the Japanese parent of the newly acquired GSK Consumer Nigerian Plc unit, said on Friday that half-year profits fell 4.8% to ¥17.9bn yen ($177m).

The beverage company which derived 38% of its half-year sales from overseas markets said that a stronger yen affected earnings growth. Net income would have risen 3.1% if it wasn’t for currency volatility, the company said. Suntory is forecasting further decline in profits for the rest of the year, with ¥40.5 billion yen forecasted for the 12-month period.

GSK Consumer Nigeria declares N3.7bn net loss in half-year as currency devaluation bites

GlaxoSmithKline Consumer Nigeria Plc (“GSK Consumer Nigeria”) on Friday reported a net loss of N3.7bn for the first-half of 2016, down from N297m in the same period last year.

The company which recently sold its drinks business (Ribena and Lucozade brands) to Suntory Beverage & Foods Nigeria Limited so it can focus on healthcare and pharmaceuticals said that revenue for the period fell 9.6% to N13bn, down from N15bn last year.