International Breweries Plc, the Ilesha based brewer acquired by SABMiller in 2012 saw its first quarter (Q1) net profit for the period ended June 30, 2015 fall by 40.6 percent to N420.80 million, from N708.21 million recorded in 2014.
However, revenue for the company climbed to N5.22 billion, from N5.21 billion for the period in 2014.
The results also showed skyrocketing operating expenses and finance costs.
Hundreds of workers of the La Casera Soft drinks company staged a protest on Monday in front of the company’s premises in Amuwo Odofin section of Mile-2, Lagos as company officials said they have sacked all employees for what they described as an invasion of its premises by “hoodlums.”
The workers say the trouble started when they tried to form a union to protect their rights. The Senior Assistant General Secretary of the National Union of Food, Beverage, and Tobacco Employees, Mike Olanrenwaju, said that they made overtures to engage the company but were rebuffed.
Champion Breweries Plc, the Akwa Ibom based brewer that is majorly owned by Raysun Nigeria Limited, a holding company controlled by Heineken N.V, the parent company of Nigerian Breweries Plc reported a profit before tax of N20.829 million and profit after tax (PAT) of N14.579 million in its half year results for period ended June 30, 2015. In the same period in 2014, the company recorded a loss of N884.712 million.
Champion’s revenue for (H1 2015) rose 14 percent to N1.596 billion, from N1.4 billion from the same period in 2014.
Nigerian Bottling Company, bottlers of the famed Coca-Cola brand in Nigeria have just introduced a new line of fruit juice made from concentrate, Five Alive Pulpy Orange.
The company also said that it has partnered with Teragro, the agricultural arm of Transnational Corporation of Nigeria Plc (Transcorp) as the sole local concentrate sourcing partner.
Teragro Commodities Limited produces orange, mango and pineapple concentrates for industrial markets. It first began producing concentrates for Coca-Cola in 2014.
Walter Drenth, Marketing Director at Nigeria Breweries Plc has left his position and has been replaced by Franco Maria Maggi.
Before taking up his current position, Mr. Maggi was the Director of Marca Heineken Bohemia xx Stron from November 2012 to August 2015. He started his career as a Trainee in Heineken, Netherlands in November 2001 and rose to the rank of Heineken Branch Director in October 2010. He has been a director at Nigerian Breweries Plc since early this month, just before assuming his current post.
Diageo Plc, through its wholly owned subsidiary, Guinness Overseas Limited announced on Wednesday, Sept. 9th that it intends to increase its shares in Guinness Nigeria Plc by 15.7 percent, up to N41.37 billion naira (£135 million). Guinness Nigeria is a subsidiary of Diageo Plc. The deal would increase Diageo’s stake in the company to 70 percent.
Guinness Nigeria said its parent company, which already owns 54.3 percent of the company has expressed intentions of launching a partial tender offer to existing shareholders and would acquire additional shares on the Nigerian stock exchange at a price of no more than N175 per share.
Guinness Nigeria Plc on Friday, 4th September 2015, released its second quarter earnings for the period ended 30th June 2015, reporting a 19% drop in profit after tax (PAT) to N7.8bn, from N9.6bn for the same period in 2014. Diluted earnings per share also fell by 19% to 518, from 636 last year. The company’s borrowing cost rose by 10% to N4.9bn, from N4.4bn the previous year.
However, revenue grew by 9% to N118 billion, from N109 billion from the same period in 2014.
Nestle Nigeria’s second quarter (Q2) 2015 profit declined by 24.9 percent as competition in the marketplace and a weak consumer spending continues to haunt the consumer products company. The company is also beset by the insecurity in the north of the country, and higher borrowing costs, among others.
Nestlé’s profit for the period under review was N8.887bn, compared with N11.836bn from the prior year. Sales also fell to N65.92bn, from 67.2bn in the preceding year, a 1.9 percent decline.
Teragro Commodities Limited, the agricultural arm of Transnational Corporation of Nigeria, has entered into partnership with the Coca-Cola Bottling Company, to be its sole local concentrate supplier in Nigeria.
Teragro processes orange, mango and pineapple concentrates for industrial markets at a processing plant in Benue State.
Consumers in Benue State and its environs have welcomed the re-launch of ‘More Lager Beer’, brewed by Nigerian Breweries in its Makurdi plant.
The consumers expressed their views at the consumer experience event held for the brand at Goddies Bar in Makurdi, the Benue State capital. The event was to formally re-introduce the brand that now has a new look and a new taste experience for consumers.
