Monthly Archives: October 2017

Cadbury Nigeria’s losses narrow as company struggles to return to profitability

October 31, 2017   Editor   No comments

Cadbury Nigeria Plc on Thursday reported a net loss of ₦64 million for the nine months to the end of September. The loss was an improvement from 2016 when the company posted a net loss of ₦842 million. The firm said that its fortune improved in the third quarter as it posted a net profit of ₦702 million, helping narrow the cumulative loss.

The Bournvita maker said that it saw a 14% increase in sales in the nine months to the end of September. Sales climbed to ₦24.3 billion (USD$66.9m) from ₦21.3 billion (USD$58.7m) in the previous year.

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Cost savings initiatives, operating efficiencies boost Nestle Nigeria’s nine months profit

October 30, 2017   Editor   No comments

Nestle Nigeria Plc, one of the country’s largest Fast Moving Consumer Goods Companies (FMCG) said on Monday that revenue for the nine months to the end of September grew 43% to ₦185bn ($510 million), from ₦129bn ($355 million) in the same period last year.

The company behind such brands as Milo Cocoa drink, Nescafe Coffee, and Golden Morn among others said that the boost in sales was fueled by a strong consumer and distribution-led activities as well as benefits from last year’s price increases.

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AB InBev maintains momentum in Q3; post 50% profit rise in nine months

October 30, 2017   Editor   1 Comment
beer

Anheuser-Busch InBev said on Thursday that revenue in the nine months to the end of September grew 4.1% to $42bn and 3.6% to $14.7bn in the third quarter alone.

The maker of Budweiser and Corona said that its growth was fueled by SABMiller’s former operations and by revenue management initiatives and continued premiumization. The brewer noted that total beer volumes fell 0.3% in the nine months to the end of September and declined 1.2% in the third quarter.

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USAID partners Nestle Nigeria, others to train farmers on best practices

October 29, 2017   Editor   No comments

The United States Agency for International Development (USAID) has partnered with Nestle Nigeria Plc and two non-governmental organisations to train farmers, workers and small agricultural businesses in Kaduna State on improving crop quality.

The other organisations that have teamed up with USAID and Nestle Nigeria are Volunteers for Economic Growth Alliance and Vega Member Cultivating New Frontiers in Agriculture.

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Soft drinks probe: House panel accuses NAFDAC of compromise and failure to perform duty

October 28, 2017   Editor   No comments
soft-drink

The House of Representatives ad hoc committee investigating the production and distribution of soft drinks manufactured by the Nigerian Bottling Company (NBC) and other soft drinks producers in the country accused the National Agency for Food and Drug Administration and Control (NAFDAC) of compromise and failing in its duties to live up to its responsibility.

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Coke Employees in South Africa go on Strike

October 28, 2017   Editor   No comments

Employees of the South African unit of Coca-Cola Beverages Africa (CCBA) have gone on a protected strike for the past two weeks as they press home their unconditional demands for a 7% pay increase and better working conditions.

The industrial action which began on 12 October affects the company’s operations in the Eastern Cape, Free State, Northern Cape, Limpopo and Mpumalanga provinces.

The workers on strike are former employees of Coca Cola Fortune, which together with other entities, merged to form Coca Cola Beverages South Africa in May 2016.

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Guinness Nigeria off to a strong start in Q1 as revenue surge 30%

October 27, 2017   Editor   No comments

Guinness Nigeria Plc on Thursday reported a 30% increase in revenue for the first quarter ended 30th September 2017.

The Nigerian unit of British drinks maker Diageo Plc said that sales hit N29.9bn ($82.3m) in the first three months of its financial year, up from N23bn ($63.3m) it recorded in the same period in 2016.

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NECA asks members to decline invitation to Public hearing on soft drinks

October 27, 2017   Editor   No comments

The Director General, Nigeria Employers’ Consultative Association (NECA), Mr. Olusegun Oshinowo, has asked its members to decline an invitation by the Federal House of Representatives ad-hoc Committee investigating the production and distribution of soft drinks manufactured by the Nigerian Bottling Company Limited (NBC) and other drinks produced or marketed in Nigeria.

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House panel pledges to continue soft drinks probe

October 27, 2017   Editor   No comments

Majority Leader of the Federal House of Representatives, Hon. Femi Gbajabiamila, has said that the National Assembly has power to carry out an investigation into a matter involving privately-run companies.

Speaking as the chairman of the House ad hoc Committee investigating the production and distribution of soft drinks manufactured by the Nigerian Bottling Company PLC (NBC), and other soft drinks sold in the country, Hon. Gbajabiamila stressed that it was equally erroneous to assume that the National Assembly would halt a probe because a party involved had taken the matter to court.

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Coca-Cola Q3 profit rises 38% on cost efficiencies, sales dip on refranchising costs

October 26, 2017   Editor   No comments

The Coca-Cola Company (TCCC) reported net revenue of $9.1bn for the third quarter of 2017, down 15% from last year’s $10.6bn, blaming the decline on ongoing refranchising of its bottler territories.

The soda giant said that total unit case volume was unchanged from last year, although certain emerging markets in Latin America and developing markets showed improving trends with slightly positive case volume growth, which offset declines in developed markets that were impacted by weather and the cycling of strong results from the prior year.

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