Daily Archives: October 26, 2017

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

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.

Focus on improving efficiencies lifts Nigerian Breweries nine-Month results

Nigerian Breweries Plc (“NB”), the country’s largest brewer said on Thursday that sales for the nine-months to September ending grew 14% to N255bn ($700m). In the same period in 2016, the firm recorded revenue of N223bn ($614m).

The company which is a unit of Amsterdam-based Heineken N.V. said that changing market dynamics resulted in increased costs and expenses. The firm’s cost of sales jumped 18.1% in the nine months to September and 15.2% in the third quarter alone. While the company’s overall net finance cost dropped 23%, it spiked 47% in the third quarter to N2.6bn ($7.1m) resulting in a 75% drop in third quarter profit.