Nigerian Breweries Plc, held its 2017 Edition of Distributors and Trade Partners Award last Friday at the Eko Hotels and Suites, Victoria Island, Lagos.
The award ceremony which is an annual event honours distributors and key transporters of the brewing company who excelled in the course of their business partnerships in the last year.
The Coca-Cola Company (TCCC) reported its fourth quarter and full-year results on Thursday, with revenue falling 6% for the quarter to $9.4bn, from $10bn in the same period in 2015. It would be the seventh quarterly drop for the company. Full-year sales also fell 5% to $42bn, from $44bn in the prior year, blamed on foreign exchange headwinds, weakened economies abroad, cost of acquisitions and divestitures tied to its bottler refranchising.
The soft drinks giant said that costs related to the refranchising of its U.S. bottling operations came in higher than expected and hurt Q4 and full-year results, with fourth quarter net profit declining 55% to $550m, from $1.24bn, while full-year net income fell 11% to $6.5bn, from $7.4bn.
French wine and spirits group Pernod Ricard said on Thursday that half-year sales for 2016/2017 financial year rose 2% to €5.06bn ($5.40bn), driven by continued success of its flagship Jameson Irish whiskey in the United States and a return to sales growth in China, helped by its Martell cognac.
A new survey (QUDAL-QUALITY MEDAL SURVEY), conducted in Nigeria by Swiss-based ICERTIAS, a market research company, ranked Peak milk, a premium milk brand from FrieslandCampina WAMCO as the best milk in Nigeria in quality rating.
A statement by the Senior Certification Executive of ICERTIAS, Mihaela Siamar, stated “the first ICERTIAS QUDAL-Quality Medal survey in Nigeria shows that most Nigerian consumers consider Peak as a premium milk brand that offers them the highest level of quality”.
Indonesian food and beverage producers to Africa and Latin America are raising concerns with their government about high import tariffs in these countries.
In a report published in the Jakarta Post on Tuesday, the chairman of the Indonesian Food and Beverage Association (GAPMMI), Adhi Lukman, said “these import tariffs ranged between 20% and 40%.
Avon Crowncaps & Containers Nigeria Plc, makers of screw caps and metal containers for the beverage industry and others said that revenue for the third quarter (Oct – Dec) rose 67% to N6.4bn, from N3.8bn in the prior period.
However, a higher cost of sales of N5.8bn, an 87% increase from the prior year’s N3.1bn left little gain in the form of operating profit to cover expenses.
Nigerian Bottling Company Limited (“NBC”), bottlers of Coca-Cola products in Nigeria has given out nine distribution trucks to its distributing partners in Abeokuta, Ogun State. The distributing partners received the trucks during a presentation ceremony organized by NBC directors in December 2016 at the company’s depot in Abeokuta.
The company said the initiative was part of its plan to grow, develop and satisfy the market in a more efficient and sustainable way.
The Federal Government on Wednesday unveiled a revised National Tax Policy which is meant to provide for an efficient tax system and address the low tax-to-GDP ratio.
Addressing the media on the revised tax system after the conclusion of the Federal Executive Council meeting on Wednesday, the Minister of Finance, Kemi Adeosun, said that the cabinet, which was presided over by the Vice President, Yemi Osinbajo has approved the revised National Tax Policy which will see the Value Added Tax (VAT) on luxury items, like champagne, among others raised from the current 5%.
