Daily Archives: March 29, 2017

Champion Breweries finishes year stronger

Champion Breweries on Monday reported its full year results for 2016 with net income surging 203% to N530m, from N77m in the previous year.

The maker of Champ Beer and champ malt saw a 10.37% rise in revenue for the year to N3.9bn, from N3.5bn in 2015.

While selling and distribution expenses rose 26% to N322m, from N256m in the previous year, administrative expenses fell 73% to N160m in the period under review.

Coca-Cola defends integrity of its brands – Sprite, Fanta

The Coca-Cola Company (TCCC) has said that its beverages – Fanta and Sprite are safe for human consumption.

Commenting for the first time on the Fanta and Sprite controversy in Nigeria, the Atlanta-based soft drinks giant said that the ruling by a Lagos High Court that its brands – Fanta and Sprite are unfit for consumption when combined with Vitamin C is “inaccurate and unsupported by science”. It added that both benzoic acid and ascorbic acid (vitamin C) are ingredients approved by international food safety regulators.

Bob Geldof, Irish musician, activist takes minority stake in Blue Skies

Eight-Miles (8 Miles), a private equity firm with interest in Agriculture and technology and founded by Bob Geldof, the Irish singer known for his social activism and anti-hunger efforts in Africa, announced on Tuesday it had taken a minority stake in Blue Skies, an ethical fruit juice business with operations in Ghana, Egypt, South Africa and with sights set on expanding to Nigeria.