Tag Archives: Diageo

Diageo’s – Capital Markets Day 2017 Wrap-up

Diageo held its Capital Markets Day (CMD) on 9th May 2017. The company’s Africa President, John O’Keeffe spoke with analysts on various issues covering the group’s business operations in Africa and Nigeria.

Beverage Industry News (NG) recaps some of the highlights of the day and the spirit firm’s strategy for Africa in 2017 and beyond.

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.

Diageo’s Africa President John O’Keeffe sheds light on the group’s activities in Africa and outlook

Diageo Plc, the world’s largest spirits maker with big footprints in Africa in both beer and spirits segment said recently it has a strong positive outlook for its business on the continent. The group’s Africa president John O’Keeffe last week spoke with analysts on a wide range of issues pertaining to the group’s activities and strategy on the continent.

Guinness Nigeria donates Optical Equipment to Lagos Eye Hospital

Guinness Nigeria Plc, has donated a pair of slit lamps to the management of the Lagos University Teaching Hospital (LUTH), as part of its effort to boost healthcare in the country.

Slit lamps are the most frequently used and most universally applicable examination instrument in ophthalmology. Its field of application include the examination of the anterior segment of the eye including the crystalline lens and the anterior vitreous body, observation of the posterior segments and the iridocorneal angle that are not visible in the direct optical path, as well as measuring intraocular pressure.

Guinness Nigeria releases 2016 Sustainability Report; Outlines future goals

Guinness Nigeria Plc, on Wednesday released its 2016 Sustainability Report, which provides information on the company’s performance on various aspects of its operations and sets out its sustainability goals for the future.

Weak pound help Diageo post stronger first-half results

Diageo Plc reported on Thursday a better than expected half-year results, with sales rising 15% to £6.42bn from £5.61bn a year ago.

The company said that profits rose 8% to £1.51bn from last year’s £1.41bn. The spirits maker noted that a 17% drop in the value of the British pound following Brexit vote had a positive impact on earnings, adding around £850m ($1.07bn) to net sales. On organic basis (stripping out the effects of currency movement on revenue and profits), sales rose 4.4% while operating profits grew 4.4%.

Diageo mulls upping stake in Indian United Spirits

Diageo Plc is weighing raising its majority stake in Indian spirits maker United Spirits Ltd (USL), according to people familiar with the matter. USL is the maker of McDowell’s No. 1 whiskey, Signature whiskey, Romanov vodka, among other spirit brands.

Diageo is said to be considering an open offer to other shareholders in United Spirits, according to people, who do not want to be identified because the matter is private.

Diageo’s credit quality ‘stronger’ than Pernod Ricard’s, says Moody’s

Credit rating agency Moody’s said in a report published on Monday that Diageo has a “stronger credit quality” than its rival Pernod Ricard.

Moody’s based its decision on Diageo’s lower leverage, larger size and market share, which it says supports stronger credit quality and a higher rating than its French rival Pernod Ricard.

Diageo rescinds offer to up stake in Guinness Nigeria

Diageo Plc, parent company of Guinness Nigeria Plc announced on Tuesday through its wholly owned subsidiary Guinness Overseas Limited that it was withdrawing its intent to raise its equity stake in Guinness Nigeria Plc by 15.7%.

Guinness Nigeria gets lifeline loan to bridge FX shortages

Guinness Nigeria Plc, said on Wednesday that it had received a $95m loan from parent company Diageo to help bridge dollar shortages caused by a decline in crude oil prices.

The company’s chief financial officer, Ronald Plumridge disclosed this during an analyst call. He said the company’s dollar needs were far much bigger than they could source locally or through exports, so Diageo stepped in with the loan.