Daily Archives: February 17, 2017

Guinness Nigeria refutes Pharma Deko’s debt claims

Guinness Nigeria Plc, in a statement released to the media on Friday said it had responded to a court process initiated by Pharma Deko Plc, a pharmaceutical company, which alleges that the brewer owes it N176m representing an arbitral court award made against the company and in favour of Pharma Deko. The suit also suggests that Guinness Nigeria is unable to pay the debt.

Revenue growth initiatives, cost efficiencies lift Coca-Cola HBC profit

Coca-Cola HBC, the parent company of Nigerian Bottling Company (NBC) reported its full-year results on Thursday for the 2016 financial year, with revenue falling 2% to €6.2bn ($6.6bn) despite a 1% volume increase.

The company which is the Coca-Cola anchor bottler in 28 mostly European countries and Nigeria said that adverse currency movements caused the decline.