Daily Archives: May 17, 2016

NAFDAC busts counterfeit ring specializing in producing alcoholic spirits in Port Harcourt market

The National Agency for Food and Drug Administration and Control (NAFDAC), said on Tuesday it has uncovered a counterfeit syndicate operating out of the Mile-3 Ultra Modern Market, Port Harcourt and specializing in producing alcoholic spirits of different brands, both domestic and foreign.

Currency weaknesses take shine off Gruppo Campari’s first quarter 2016 revenue

Gruppo Campari, the Italian spirits maker, which operates in Nigeria through Brian Munro Limited, reported flat sales of €327.4m in the first quarter of 2016, although, excluding the effects of currency movements, organic growth would have been 7.2%

Beverage companies to experience lower growth in 2016 as headwinds hit consumers

With the myriad of macro-economic challenges facing businesses in Nigeria, particularly, the Fast Moving Consumer Goods companies (FMCG), alcoholic beverage brands and to a lesser extent non-alcoholic beverage brands will feel the pinch more with lower profits as consumers look for cheaper brands. This was the assessment of analysts at Moody’s Investors Service, a global country and market rating company.