Monthly Archives: May 2017

Coca-Cola HBC hails 4.5% revenue growth in first quarter

May 11, 2017   Editor   No comments

Coca-Cola HBC AG, the bottler of Coca-Cola products in Nigeria and 27 other European countries said on Thursday that revenue for the first quarter of 2017 (Jan – Mar) rose 4.5% to €1.38bn ($1.49bn), up from €1.3bn in 2016. Total volumes rose 0.7% in the period.

The group attributes its good performance to strong growth in emerging markets, where sales rose 12.6% to €628.9m on a 4% volume lift. According to the company, volumes in Russia showed the first signs of recovery, recording very low single-digit volume growth for the first time in eight quarters, driven by mid-single digit increase in sparkling.

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Nigeria’s dollar scarcity to persist – Moody’s

May 11, 2017   Editor   No comments

Nigeria’s dollar scarcity is likely to continue in the foreseeable future despite recent efforts by the Central Bank of Nigeria (CBN) to make more dollars available, according to Moody’s Investors Service.

In a report released by the global rating agency on Wednesday, which it said was an “Update to the markets,” the firm said that despite recent progress in foreign exchange liquidity, dollar availability in Nigeria are unlikely to return to previous levels.

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Campari starts year with double-digit growth

May 10, 2017   Editor   No comments

Italian spirits group Gruppo Campari reported 15% revenue growth in the first quarter of 2017 (Jan – Mar) to €376.6m ($409.8m). The group attributed its good performance to strong organic growth of its global priority and regional priority brands, a positive exchange rate effect and a perimeter effect, driven by the Grand Marnier acquisition in July 2016, which contributed €32.5m to group sales. The gains from the Grand Marnier sales partially offset declines from termination of some distribution agreements and sale of non-core businesses.

Group Pre-tax profit rose 56.7% to €53.6m in the period.

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Nigerian Breweries kicks-off 2017 Edition of ‘Maltina Teacher of the Year’ Awards

May 10, 2017   Editor   No comments

In its quest to reward teachers for their priceless effort in nation building, leading brewery company, Nigerian Breweries Plc, has flagged-off the 2017 Maltina Teacher of the Year competition.

At the event, attended by key education stakeholders across the country, the Managing Director of the company, Mr. Nicolaas Vervelde, represented by the Corporate Affairs Adviser, Mr Kufre Ekanem, said that applications for the 2017 Maltina Teacher of the Year opened on Tuesday May 9, 2017.

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Coca-Cola Beverages South Africa sells stake in Appletiser to black empowerment firms

May 10, 2017   Editor   No comments

Coca-Cola Beverages South Africa (CCBSA), the South African unit of the newly formed Coca-Cola Beverages Africa (CCBA) said on Monday it has sold 21.5% of its shareholdings in Appletiser brand to group of investors and employees.

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Nigerian Breweries appoints Johan Doyer as Interim Managing Director

May 09, 2017   Editor   No comments

Nigerian Breweries Plc (“NB”) Board of Directors have moved quickly to appoint a new Managing Director to replace the departing Mr. Nicolaas Vervelde, who resigned last week having completed his tenure at the firm. His last day on the job would be on the 16th of June 2017.

In a statement released by the company on Tuesday, it said that the appointment of Mr. Johan Doyer will take effect on 16th June 2017 and would be on an interim basis pending the appointment of a substantive Managing Director/CEO for the company.

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AB InBev weighs ramping up production in Nigeria

May 08, 2017   Editor   1 Comment

Beer giant Anheuser-Busch InBev is considering increasing capacity in Nigeria to keep up with demand, according to the company’s CEO Carlos Brito.

While speaking to analysts late last week following the brewer’s first quarter 2017 results, Brito said that the group was struggling to keep up with demand in Nigeria as the company continues to grow “double digits” in both volumes and sales terms. AB InBev reported double-digit volume gains in Nigeria, as well as increased capacity and further market penetration in Q1.

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La Casera relaunches its famous Apple drink

May 08, 2017   Editor   No comments

The La Casera Company, a leading soft drinks firm in the country has relaunched its eponymous Apple drink – La Casera Apple drink, a favourite among the youths.

The reintroduction of the brand received endorsements from the regulatory agencies including the National Agency for Food, Drug Administration and Control (NAFDAC), Standards Organisation of Nigeria (SON), as well as from the Manufacturers Association of Nigeria (MAN), distributors and consumers at the event which held at the Oriental Hotel, Victoria Island, Lagos on Friday.

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Cadbury Nigeria’s CEO urges manufacturers to innovate to survive

May 06, 2017   Editor   1 Comment

The Managing Director and Chief Executive Officer of Cadbury Nigeria Plc, has advised colleagues in the Fast Moving Consumer Goods sector (FMCGs) to adopt flexibility to survive in the current economic climate in Nigeria.

Speaking at the April ‘Members’ evening of the Institute of Directors in Lagos, he advised manufacturers to embrace innovation.

In his speech titled ‘Proffering Solutions to the Challenges of the FMCG/Manufacturing Sector of the Nigerian economy’, the MD emphasized that manufacturers should not be frustrated at the various challenges facing them. Instead, they should be flexible to adopt new ways of doing things in the current economic condition.

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Nigerian Breweries Managing Director, Nicolaas Vervelde to leave post in June

May 04, 2017   Editor   2 Comments
Mr. Nicolaas-Vervelde

Nigerian Breweries Plc, announced on Thursday that its long-serving Managing Director/CEO, Mr. Nicolaas Vervelde, will leave his post on 16th June 2017 to take up a new role within the HEINEKEN Group outside Nigeria.

Mr. Vervelde, who has been serving as the company’s MD for nearly 7-years, was formerly a non-Executive Director of the company before rejoining the board on 1st August 2010 as Managing Director/CEO.

In a statement released by the company, it said that “The Company has recorded several laudable milestones with Mr. Vervelde at the helm of affairs including the expansion of its operations through acquisition of additional Breweries.

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