Tag Archives: brewers

Avon Crowncaps suspends trading on the Nigerian Stock Exchange

Avon Crowncaps & Containers Nigeria Plc, makers of screwcaps, metal containers and steel drums for a diverse industry including beverage companies (soft drinks producers, juice and dairy makers, brewers and spirits producers) among others announced on Thursday that it was suspending the trading of its shares on the Nigerian Stock Exchange (NSE) effective 31 August 2017.

The company which has seen its fortunes decline over the last five years had sought to buy out its minority shareholders who hold about 21% of the firm’s shares so it can be taken private and restructured.

Avon Crowncaps is majorly controlled by Wilko Corporation, a private company registered in the Bahamas.

Avon Crowncaps posts loss despite strong revenue growth in Q3

Avon Crowncaps & Containers Nigeria Plc, makers of screw caps and metal containers for the beverage industry and others said that revenue for the third quarter (Oct – Dec) rose 67% to N6.4bn, from N3.8bn in the prior period.

However, a higher cost of sales of N5.8bn, an 87% increase from the prior year’s N3.1bn left little gain in the form of operating profit to cover expenses.

Avon Crowncaps extends loss to Q2

Avon Crowncaps & Containers Nigeria Plc, makers of screw caps and metal containers for the beverage industry reported a net loss of N86m for the third quarter ending 30th September. In the same period in 2015, it recorded a net loss of N16m.

Avon Crowncaps losses widen in Q1 despite revenue growth

Avon Crowncaps & Containers Nigeria Plc, manufacturers of screw caps, metal containers and steel drums for a diverse industry which includes beverage companies (makers of soft drinks, juice, dairy, brewers, spirits producers), pharmaceutical and oil industries among others reported a net loss of N202 million in the first quarter of 2016 (Apr – Jun) despite posting a 20% rise in revenue to N4bn, up from N3.4bn from the same period in the previous year.