Prices of soft drinks rise amid FX woes, inflationary pressure

Prices of soft drinks are on the rise as the industry continues to grapple with the fallout from macroeconomic headwinds induced by the drop in oil price. Nigerian Bottling Company (NBC), the More »

How brewers are selling beer with folklore

As Nigeria’s recession deepens and consumers pockets are squeezed, majority of those still drinking have shifted their beer preferences to value or low cost brands. Nigerian Breweries Plc, the country’s leading brewer More »

Guinness Nigeria’s revenue decline 4% amid low beer sales, impact of new excise duty

Guinness Nigeria Plc said on Thursday that net sales for the third quarter and nine-months to the end of March declined by 4% respectively. The company recorded N33.6bn in net sales in the third quarter and N101.4bn in nine months.

Nigerian Breweries posts further profit decline in Q1 as new excise duty rate increase bites

Nigerian Breweries Plc, on Wednesday reported a net profit decline of 21.3% for the first quarter of 2019, impacted by the new excise duty rate increase that came into effect in June. Net earnings fell to N8bn from N10.2bn earned in the same period in 2018.

Excise duty rate increased by 48.2% from the same period in the previous year thus shaving-off N8.1bn from sales revenue as compared to N5.5bn. Total Net Revenue grew by 3.3% to N82.3bn from N82.9bn in 2018.

Heineken sees increased beer volumes in Q1, with growth across all regions

Heineken N.V said on Wednesday that beer volumes in the first quarter grew 4.4% to 52.7 million hectoliters, with growth seen across all regions.

The company said that brand Heineken® saw 8.9% growth with double digit boost coming from Brazil, South Africa, Russia, China, the UK, Nigeria, Mexico, Romania and Germany.

Coca-Cola post strong Q1 results, driven by innovation and revenue management initiatives

The Coca-Cola Company said on Tuesday that first quarter revenue grew by 5% to $8.02bn (€6.17bn) from $7.6bn in 2018.

The company noted that concentrate sales growth of 1% and price mix growth of 5% in the first quarter were driven by consumer-centric innovation and solid revenue management initiatives in the marketplace.

Commenting on the results, the CEO of The Coca-Cola, James Quincey, said: “We’re encouraged by our first quarter results as our disciplined growth strategies continue to deliver strong underlying performance.

Former Barcelona captain Puyol wraps up his Nigeria Tour amid fanfare

The three-day UEFA Championship tour which brought former Barcelona defender Carles Puyol to Nigeria came to an end on Thursday, 18th with a lush party at the Cubana, Lagos.

The event attracted celebrities who came out to honour Puyol, the Spanish football icon and former captain of the Barcelona Football Club, who had been in Nigeria since the 16th for the coveted UEFA Champions League Tour presented by Heineken.

PepsiCo hails a strong start to the year, thanks to boost from its snack business

PepsiCo Inc, on Wednesday reported sales growth of 2.5% for the first three months of the year to $12.9bn, thanks in part to strong revenue growth in its Frito-Lay North America snack business, which posted 5.47% sales rise. The company’s North American Beverages unit also helped fuel the quarterly growth with a 2.15% sales lift.

Commenting on the results, PepsiCo Chairman & CEO, Ramon Laguarta, said: “We are pleased with our results for the first quarter.

Coca-Cola Nigeria says Private Public Partnerships key to realising MDG

Coca-Cola Nigeria said on Monday that private public partnership (PPP) was crucial to the realisation of the United Nations (UN) Sustainable Development Goals (SDGs) in the country.

This was made known by the Director, Public Affairs and Communications, Coca-Cola West Africa Business Unit, Clem Ugorji, who spoke at the Federal Medical Centre (FMC), Ebute Metta, Lagos during the donation of medical equipment. He said such intervention will not only promote mother/child health but will reduce drastically their mortality rates.

Golden Guinea dispels rumours of commencement of full operation

Golden Guinea Breweries Plc on Tuesday issued a statement to dispel rumours it has resumed full operation.

In a statement released to the Nigerian Stock Exchange (NSE), the Umuahia, Abia State-based brewer said its attention has been drawn to several unauthorized recent online publications on commencement of full operations by the company.

Golden Guinea Breweries reopens for business

Golden Guinea Breweries Plc, the Umuahia, Abia State-based company which has been closed for 17 years is finally back to business.

According to a statement by the Abia State Commissioner for Information, John Okiyi Kalu, he drank his first glass of Golden Guinea beer on Friday after more than 17 years.

Hollandia Yoghurt touts its other uses

Hollandia Yoghurt, a brand from the stable of CHI Limited, Nigeria’s market leader in fruit juices and yoghurt drinks, said it is seeing an increased use of yoghurt, either consumed directly or as a taste-enhancing mixer.

Explaining further, the brand said that Hollandia Yoghurt Mixology has become a centrepiece for consumers who are increasingly embracing yoghurt and drink-mixing culture as their taste evolve.

It stated that since its launch in 2016, consumers have commended Hollandia Yoghurt Mixology for its novel taste, smooth texture and its versatility to be used as a mixture with variety of beverages.