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: Wines & Spirits

Emerging markets growth lifts Brown-Forman’s Q1 results

American spirit firm Brown-Forman Corp reported a 9% sales growth for the first quarter ended 31 July 2018. Revenue rose to $723m from $661m in the previous year.

The company credits its success to continued improvement in emerging markets, driven by improving consumer demand in a more stable exchange rate environment. The company’s two largest emerging markets, Mexico and Poland reported double-digit gains of 27%, fueled by strong growth of its Jack Daniel’s family of brands.

Alomo Bitters gets a new look

Alomo Bitters, the flagship brand of Ghana-based Kasapreko Company Limited was unveiled on Friday in Lagos with a new look as the brand seeks to consolidate its position in the Nigerian bitters market.

At a media parlay held at the Renaissance Hotel, G.R.A. Ikeja, Lagos, the company said that the 750ml and 200ml bottles now come with a new Kasapreko tamper proof to help customers distinguish the brand from its rivals.

The new Alomo Bitters now has a holographic security-like shiny strip, similar to that found on currency notes and forms part of the plastic wrap over the bottle cap.

International Drinks Festival planned for Lagos in December

An International Drinks Festival is set to hold in Lagos this December. At the unveiling of the pre-event last Thursday at the Federal Palace Hotel and Casinos, Victoria Island, Lagos, the event organisers, Balmoral Events Solution Company, said that the event will take place between 1st and 3rd December 2017 at the Balmoral Convention Centre, Federal Palace Hotel and Casino, Victoria Island, Lagos.

Intercontinental Distillers enters the bitters market with launch of Confam

Intercontinental Distillers Limited (IDL), makers of Chelsea Dry Gin and Veleta fruit juice recently unveiled the newest addition to its spirits portfolio – Confam Bitters Schnapps.

The unveiling of the alcoholic beverage took place at the popular Ojuwoye market in Mushin, Lagos State amid pomp and pageantry.

At the event to mark the launch of the brand were the company’s distributors, market union leaders and popular female Juju musician St. Janet who serenaded the guests.

Rising consumer demand, favourable share trends drive Beam Suntory’s half-year results

Beam Suntory, Inc, the alcoholic beverage arm of Japanese group Suntory Holdings said that revenue for the first-half of 2017 was driven by rising consumer demand and favourable share trends across key markets.

The company said that sales grew in the mid-single-digits, driven by double-digit global gains from Jim Beam and Maker’s Mark bourbons.

Campari half-year results boosted by global priorities, positive exchange rate

Gruppo Campari, the Italian spirits group hailed its first-half results as sales grew 13.5% to €844.7m, helped by strong growth of high-margin global priorities and regional priority brands.

The maker of SKYY vodka and Wild Turkey bourbon said that it also benefitted from a positive exchange rate effect of 1.8% as many currencies it trades in increased in valuation. The company adds that the consolidation of the Grand Marnier acquisition in July 2016 helped boost sales as well as the termination of some distribution agreements and sale of non-core businesses.

Moët Hennessy half-year result boosted by growth in U.S., China

Moët Hennessy, the wines & spirits arm of French luxury goods maker Louis Vuitton Moët Hennessy (LVMH) reported 12% revenue growth in the first-half of the year ended June 30.

Sales rose to €2.3bn from €2bn in the previous year, driven by volume increase in the United States and a robust upward momentum in China. Europe also had a strong start to the year, the company said.

Productivity cost-savings, favourable currency tailwinds boost Diageo’s full-year results

London-based Diageo Plc, said on Thursday that it recorded £12.05bn ($15.83bn) in net sales for the full-year ended June 30, up 14.87% from the previous year’s £10.49bn.

“We have delivered consistent strong performance improvement across all regions and I am pleased with progress in our focus areas,” said Ivan Menezes, group CEO.

The maker of Johnnie Walker whisky and Smirnoff vodka attributes its good fortune to productivity gains, favourable currency tailwinds and broad-based revenue growth across its major markets.

Rémy Cointreau cheers Q1 results as sales surge 9.9%

Rémy Cointreau reported sales of €240.2 million ($276m) in the first quarter of 2017/2018 financial year, an improvement of 9.9% from the previous year.

The maker of Rémy Martin cognac and Cointreau liqueurs credits its good performance to strong growth in the Asia Pacific region, with strong gains in Greater China, Singapore and improvement in Japan.

The group said that its cognac brands which contributes 65% of group sales rose 18.7% in the three months to June 30, up from 6.2% in the fourth quarter.

Guinness Nigeria gets approval for new share sale

Guinness Nigeria Plc, announced on Tuesday it had received clearance from the Nigerian Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) to issue new shares.

The funds raised from the share sale, the company said will go to implementing its strategy in the context of ongoing external economic challenges.