Tag Archives: Financial Results

Diageo shows signs of return to growth but held back as currency headwinds hit revenue and profits

Diageo said on Thursday that revenue for the full year ended June 30 2016 fell 3% to £10.5bn, while net profit declined 6% to £2.24bn ($2.94bn), from £2.38bn a year earlier as currency devaluations and sale of its wine business hit the figures.

Cadbury Nigeria Half-Year revenue fall 1.6% on headwinds, competitive pressure

Cadbury Nigeria Plc, said on Wednesday that revenue for the six months ending in June 30, 2016 fell by 1.6% to N13.9bn, from N14.1bn in the same period a year ago.

While revenue was off by 1.6%, the maker of Bournvita posted a healthy profit after tax of N147m for the period, a 159% increase from 2015.

NB’s revenue and profit fall on weak consumer demand, tough economic environment

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Nigerian Breweries Plc, said on Wednesday that net income for the second quarter 2016 fell 24% to N8.6bn, from N11.4bn recorded in the same period in 2015.

The brewer of Star Lager, Gulder, among others hinted in a released statement accompanying its first quarter results in April that trading conditions in Nigeria remained tough amid a weaker consumer environment caused by the slump in global oil prices. The company predicted that forthcoming quarters in 2016 would be more difficult despite a better than expected Q1 result.

Pepsico reports 1% profit rise in Q2 2016 amid currency headwinds

PepsiCo, the soft drink giant behind such brands as Pepsi, 7-Up, Mountain Dew, among others said on Thursday that revenue for the second quarter of 2016 declined 3.3% to $15.4bn, from $15.92 billion, weighed down by a stronger dollar, the de-consolidation of its Venezuelan operations and currency-driven headwinds in Latin America (32%), Europe and Sub-Saharan Africa (4%). PepsiCo said that its Asia, Middle East and North America (AMENA) division saw a 3% rise in revenue.

FrieslandCampina WAMCO profits rise 13.3% in full-year despite headwinds

FrieslandCampina WAMCO, the leading dairy company in Nigeria, said it sold N120.72bn worth of milk products in fiscal 2015. The company known for some of its iconic brands such as Peak milk, Three Crowns Milk, Friso Milk, among others disclosed this at its 43rd Annual General Meeting held on May 12 2016 in Lagos.

Coca-Cola HBC revenue hit by currency headwinds, strong Euro in first quarter 2016

Coca-Cola HBC, said that weak currencies in emerging markets and a strong Euro combined to hit revenue in the first quarter of 2016. It noted that if the effect of currency movements were removed, sales would have risen 2%.

The bottler of Coca-Cola brands in 28 countries including Nigeria said that net sales revenue fell 2.7% to €1.32bn, from €1.35bn in the same period a year ago. Volume growth for the group was flat at 439m cases, helped by increases in developing and emerging markets.

Expanded capacity and enhanced market execution helped lift sales for International Breweries in fourth quarter

International Breweries, the Ilesha-based brewer owned by SABMiller, said on Tuesday that its revenue for the quarter ending March 31 2016 rose 13% to N23.3bn, from N20.6bn for the same period in the previous year.

AB InBev suffers weak start to year as first quarter revenue decline 10%

Anheuser-Busch InBev, said unfavorable currency effects, one-off financing costs and weak business in Brazil, one of its biggest markets caused earnings in the first quarter to fall 10%.

The maker of Stella Artois, Budweiser, Corona, among others, said that revenue for the quarter fell 10% to $9.4bn, from $10.453bn a year earlier.

GSK Consumer Nigeria posts 37% profit decline in the latest quarter

GlaxoSmithKline Consumer Nigeria Plc, the company behind beverage brands Lucozade and Ribena, among others, said on Thursday that its net income for the period January – March 31 2016 declined 37% to N188m, from N297m in the same quarter a year earlier.

Nestle Nigeria’s first quarter net profit jump 126%

It should be all smiles at Nestle Nigeria Plc as the consumer goods company posted one of its best quarterly performances in years with a 126% rise in net profits to N6.7bn, from N3bn in the same period a year ago.

Nestlé’s revenue trajectory for the first quarter rose 31% to N36bn, from N28bn in the same period a year ago.