Tag Archives: Coca Cola

Coca-Cola suffers sales and profit slump in Q1 on refranchising costs, headwinds

Atlanta-based Coca-Cola said on Tuesday that revenue for the first quarter ending on March 31, 2017 fell 11% to $9.1bn, while profit dropped 20% to $1.18bn. The poor performance was blamed on headwinds related to acquisitions, divestitures and costs associated with the ongoing North American bottling refranchising programme, as well as foreign exchange headwinds.

Ebonyi State bans serving of Coca-Cola branded Soft drinks at State functions

The Ebonyi State Government has become the first State in Nigeria to restrict the consumption of Coca-Cola products in the state.

Concerned with the recent ruling by a Lagos State High Court against the National Agency for Food and Drug Administration and Control (NAFDAC) and the Nigerian Bottling Company (NBC) on the alleged health effects of consuming Fanta and Sprite, Ebonyi State Governor, David Umahi on Tuesday issued an order, banning the serving and consumption of Coke, Sprite and Fanta at government functions in the state.

FX headwinds, acquisition costs and divestitures weigh on Coca-Cola sales and profits

The Coca-Cola Company (TCCC) reported its fourth quarter and full-year results on Thursday, with revenue falling 6% for the quarter to $9.4bn, from $10bn in the same period in 2015. It would be the seventh quarterly drop for the company. Full-year sales also fell 5% to $42bn, from $44bn in the prior year, blamed on foreign exchange headwinds, weakened economies abroad, cost of acquisitions and divestitures tied to its bottler refranchising.

The soft drinks giant said that costs related to the refranchising of its U.S. bottling operations came in higher than expected and hurt Q4 and full-year results, with fourth quarter net profit declining 55% to $550m, from $1.24bn, while full-year net income fell 11% to $6.5bn, from $7.4bn.

NBC awards trucks to distributor partners in Abeokuta

Nigerian Bottling Company Limited (“NBC”), bottlers of Coca-Cola products in Nigeria has given out nine distribution trucks to its distributing partners in Abeokuta, Ogun State. The distributing partners received the trucks during a presentation ceremony organized by NBC directors in December 2016 at the company’s depot in Abeokuta.

The company said the initiative was part of its plan to grow, develop and satisfy the market in a more efficient and sustainable way.

NBC builds youth Centre for Irete community in Owerri

As part of its commitment to youth and community empowerment, non-alcoholic beverage manufacturing giant, Nigerian Bottling Company Limited (NBC), has donated a Youth Centre to Irete community, in Owerri, Imo State. The handing-over ceremony of the newly constructed NBC/Irete Youth Centre took place at Umuoyo Village, Irete, Owerri, Imo State on January 8, 2017.

Fire engulfs Coca-Cola depot in Uyo; Goods worth millions at risk

The Uyo depot of the Nigerian Bottling Company, makers of Coca-Cola, Fanta and Sprite was on Wednesday engulfed in flames with goods worth millions of naira at risk of being lost.

An eye witness, Mr. Charles Ekong, told the News Agency of Nigeria (NAN) that the fire started from where the pallets are kept and soon spread to the entire packaging area.

Health industry accused of sabotaging efforts to reduce sugar content in sweetened beverages

Advocates of sugar-tax on sweetened beverages such as Carbonated Soft Drinks (CSDs) in Nigeria say that health organisations as well as medical and public health institutions have been enabling the rise in new cases of diabetes and other non-communicable diseases (NCDs) in the country by accepting billions of naira in donations from soft drink manufacturers in the form of Social Responsibility donations.

Coca-Cola partners Lagos State Youth Ministry, renovates Gbagada Youth Centre

As part of its social responsibility to youth development and healthy living, Coca-Cola Nigeria Limited has partnered with the Lagos State Ministry for Youth and Social Development to remodel the Gbagada Youth Sport/Skill Acquisition Centre.

The company made this known at a meeting held with stakeholders at the Gbagada Youth Sport/Skill Acquisition Centre, Gbagada, Lagos on Monday, 7th November, 2016.

Coca-Cola, Heineken, Lord’s Dry Gin shine at ADVAN Award

Beverage brands won big at the just concluded 2016 edition of the Advertisers Association of Nigeria Award (ADVAN) for Marketing Excellence.

While the top prize (Brand of the Year Award) went to Indomie Noodles, Coca-Cola was right behind in the second place in what was considered a closely contested race. Coke won six trophies at the annual event including first place in Digital/Social Media Marketing, Innovation and Experiential Marketing.

Interbrand’s Top global beverage brands for 2016

Interbrand, the world’s biggest and most influential brand consultancy has released its 2016 Top Best 100 brands report. The list is a mixed bag of brands from a diverse set of industries with Apple and Google topping the list.

There were 11 global beverage brands in the top 100, starting with Coca-Cola, 3; Pepsi Cola, 23; Budweiser, 30; Nescafe, 36; Jack Daniel’s, 85; Sprite, 86; Heineken, 87; Corona Extra, 93; Johnnie Walker, 95; Smirnoff, 96; Moet & Chandon Champagne, 97.