Daily Archives: July 21, 2016

SABMiller’s Q1 revenue rise 2% despite persistent headwinds in Africa

SABMiller on Thursday said net producer revenue for the first quarter rose 2% as it continues to battle economic volatility in key markets in China and Africa.

The maker of Castle Lager, Hero and Grand Lager beer, among others said that volumes in its African markets were weighed by economic volatility and challenging trading conditions.

AB InBev gets U.S. approval to acquire SABMiller

The U.S. Department of Justice Antitrust Division has given its approval to the merger of Anheuser-Busch InBev (AB InBev) and SABMiller. However, to gain U.S. approval, AB InBev must sell SABMiller’s entire U.S. assets, including its 58% stake in MillerCoors.

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.