Nampak Limited, the South African beverage can and bottle manufacturer hailed its first-half results which ended on 31 March 2017, as profit surged 41% to R853m (approx. $65m).
“We have delivered improved results, net profit up 41%, despite a tough trading environment,” said Andre de Ruyter, Nampak CEO.
“A major achievement is we were able to improve our operating efficiencies, and managed costs very closely,” he said on Tuesday.
Nestle Nigeria Plc, said it is weighing new investment proposals to bolster its nationwide production and distribution networks to drive growth.
The company made this known at its Annual General Meeting (AGM), which held recently in Lagos. Speaking at the event, the chairman of Nestle Nigeria Plc, Mr. David Ifezulike told shareholders that the company was considering a lot of investment proposals that should strengthen its operations.
Brown-Forman Corp, the U.S.-based spirits firm behind such brands as Jack Daniel’s Tennessee whiskey, Woodford Reserve among others confirmed on Thursday that it ‘is not for sale’.
A story that broke on Tuesday and first reported by CNBC had said that Brown-Forman was approached by New York-based Constellation Brands, a beer, wine and spirits firm with offer to acquire Brown-Forman but was rebuffed by the firm.
Leading dairy firm, TG Arla, makers of Dano milk has partnered with the Nutrition Society of Nigeria (NSN) to help fight malnutrition in the country.
Speaking at a press briefing in Lagos to announce 2017 ‘World Milk Day’ theme – ‘Raise a Glass’ and the role milk plays in curbing malnutrition in society, President, Nutrition Society of Nigeria (NSN), Dr. Bartholomew Brai lauded Dano milk for taking the bold initiative to partner with NSN and contribute to the well-being of Nigerians.
U.S. spirits firm Brown-Forman Corp has declined to comment on a story first reported by CNBC late on Tuesday, that “people with knowledge of the matter” said that Constellation Brands “has made an approach to acquire” Brown-Forman.
However, a spokesperson for Brown-Forman said, “As a matter of corporate policy, we don’t comment on market rumours or speculation.
Nigeria’s leading dairy firm FrieslandCampina WAMCO reported higher sales and profits in its full-year financial results for 2016.
At the company’s 44th Annual General Meeting, which held at the Muson Center, Onikan, Lagos on Thursday May 18, 2017, shareholders acknowledged the efforts of the Board of Directors and Management for the consistent performance despite the decline in economic activities and increased pressure on the naira.
Diageo held its Capital Markets Day (CMD) on 9th May 2017. The company’s Africa President, John O’Keeffe spoke with analysts on various issues covering the group’s business operations in Africa and Nigeria.
Beverage Industry News (NG) recaps some of the highlights of the day and the spirit firm’s strategy for Africa in 2017 and beyond.
Anheuser-Busch InBev on Monday announced an ambitious programme to spend $2bn in investment in its U.S. operations over the next four years to increase brewing capabilities.
The world’s largest brewer said it will spend $500m each year for the next four years – describing it as one of the biggest ever capital investment programmes in the U.S. brewing history.
Beam Suntory Inc, the wine, beer and spirits arm of Japanese conglomerate, Suntory Holdings Limited said that its first quarter revenue for 2017 fell flat, recording 0.15% decrease in sales to ¥217bn ($1.93bn).
However, the maker of Courvoisier cognac and Basil Hayden’s bourbon among others noted that its spirits segment posted sales growth in the low single-digits, helped by strong growth in brands such as Jim Beam bourbon, Maker’s Mark whiskey and other Super-Premium bourbon brands.
Japanese Beverage and Food Company Suntory Beverages & Food Limited reported flat sales of -0.1% in its first quarter 2017. Total revenue for the three months ending in March fell to ¥308.9bn ($2.7bn).
However, the company said that it was able to boost profit by focusing on strengthening its brands, creating new demand, reforming its cost structure and improving product quality.
