Tag Archives: GSK Consumer Nigeria Plc

GSK Consumer Nigeria earnings sink amid FX loss

GlaxoSmithKline Consumer Nigeria Plc (“GSK Consumer Nigeria Plc”) on Friday reported a net loss of N4bn for the 9-months ending 30th September 2016.

The company which in October finalized the sale of its drinks business (Lucozade and Ribena) including bottling and distribution to Suntory Beverage and Food Nigeria Limited cited unrealized foreign exchange loss of N6.5bn caused by the impact of Naira devaluation for its poor performance.

Suntory officially takes over Lucozade and Ribena brands

Suntory Beverage & Food Nigeria Limited announced on Tuesday its plans to expand its presence in the Nigerian food and beverage market as the new owners of the beverage brands, Lucozade and Ribena.

The announcement came after the completion of the sale of the drinks, bottling and distribution business by GSK Consumer Nigeria Plc to Japanese global beverage company, Suntory Beverage & Food.

GSK Consumer Nigeria completes sale of drinks business to Suntory

GlaxoSmithKline Consumer Nigeria Plc (“GSK Consumer Nigeria Plc”) announced on Friday, 30 September that it had completed the divestment of its drinks business including bottling and distribution to Suntory Beverage & Food Nigeria Limited.

The transaction was originally expected to close on 31 August 2016, but GSK requested for additional time to enable both parties to comply with the terms of the Asset Purchase Agreement entered into on 31st March 2016.

GSK Consumer Nigeria extends deal closure date

GlaxoSmithKline Consumer Nigeria Plc (“GSK Consumer Nigeria Plc”) said on Tuesday it has shifted the closure date to sell its drinks business to Suntory Beverage & Food Nigeria Ltd to 30th September 2016. The transaction was initially expected to close on 31st August 2016.

GSK Consumer Nigeria declares N3.7bn net loss in half-year as currency devaluation bites

GlaxoSmithKline Consumer Nigeria Plc (“GSK Consumer Nigeria”) on Friday reported a net loss of N3.7bn for the first-half of 2016, down from N297m in the same period last year.

The company which recently sold its drinks business (Ribena and Lucozade brands) to Suntory Beverage & Foods Nigeria Limited so it can focus on healthcare and pharmaceuticals said that revenue for the period fell 9.6% to N13bn, down from N15bn last year.

GSK Nigeria shareholders vote to sell beverage business to Suntory

Ribena and Lucozade brands

GlaxoSmithKline Consumer Nigeria Plc (“GSK Consumer Nigeria”) said on Monday that shareholders of the company have approved the sale of its beverage unit to Suntory Beverage & Food Nigeria Limited.

GSK Nigeria dispels rumours of pending lay-offs after sale of beverage business

GlaxoSmithKline Consumer Nigeria Plc (GSK Nigeria) has put to rest fears of planned lay-offs post sale of its beverage business to Suntory.

Speaking to journalists in Lagos, GSK’s company Secretary, Mr. Uchenna Uwechia, said that the company’s Board of Directors has accepted Suntory Beverage & Food Limited offer to buy its beverage bottling and distribution business.

He noted that the Nigerian Stock Exchange (NSE) has been informed of its proposed plan to sell its beverage business as part of a post listing requirement of the exchange.

GSK Nigeria agrees to sell beverage unit to Suntory

GlaxoSmithKline Consumer Nigeria Plc (“GSK Nigeria”) said on Wednesday, it has accepted and is recommending to its shareholders, a binding offer from Suntory Beverage & Food Nigeria Ltd, a subsidiary of Suntory Beverage and Food Limited (“SBF”) of Japan, for the sale of its beverage unit, which includes bottling and distribution of Ribena, Lucozade and part of its Agbara plant.

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.

GSK Consumer Nigeria gets dragged down by tough macro-economic environment, as profits decline 48.3% in Full Year

GlaxoSmithKline Consumer Nigeria Plc (GSK), makers of beverage brands – Ribena, Lucozade; and Wellness and Oral healthcare products has released its full year 2015 financials, showing a 48.3% net profit decline to N954m, from N1.84bn in the previous year.