Monthly Archives: October 2017

Focus on improving efficiencies lifts Nigerian Breweries nine-Month results

October 26, 2017   Editor   No comments

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.

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Heineken Nine months sales boosted by emerging markets

October 25, 2017   Editor   No comments

Amsterdam-based Heineken N.V. reported its nine months results to the end of September on Wednesday, with revenue climbing 2.5%, driven by growth in all regions except Europe and the United States.

The company said that beer volume grew 3.4%, driven by growths in Brazil, South Africa, Russia and Mexico.

Net profit for the period rose 19.94% to €1.49bn ($1.75bn) compared to €1.239bn recorded in the same period last year when the company had to take an asset impairment charge of €233m in the Democratic Republic of Congo (DRC).

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Coca-Cola to spend $90m in Kenya to broaden product offerings

October 25, 2017   Editor   1 Comment

The Coca-Cola Company (TCCC) plans to invest up to $90-million in Kenya over the three years through 2018 to increase its product offerings in the region’s biggest economy, the soft drinks maker said on Tuesday.

Coca-Cola, which is the leader in the Kenyan soda market with brands like Coke and Fanta, has committed to invest $17-billion in Africa as a whole since 2014, double what was invested in the continent a decade before, the company said.

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Reps, agency heads, NBC disagree on additives in soft drinks

October 25, 2017   Editor   No comments

The National Agency for Food and Drug Administration and Control (NAFDAC), said on Monday that it does not have the capacity to carry out tests on all foods and drinks produced or imported into the country in order to certify them healthy for human consumption before their release into the market.

The agency also said that some additives and preservatives such as benzoic acid, sunset yellow and others, used in drinks produced or imported into the country were safe for human consumption.

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Heineken to support 2017 Lagos Fashion Design Week

October 24, 2017   Editor   No comments

Heineken has said that it is supporting the 2017 edition of the Lagos Fashion and Design Week. The event showcases Africa’s rich fashion and designs by bringing together the best designers across the continent.

Founded by Style House Files, the LFDW leads the way with initiatives that support, strengthen and develop the fashion industry. Connecting with over 20 million Pan-African insiders, it features runway shows, fashion business series, fashion focus talks, and the #HLFDW after party. This year’s events will feature an exciting four-day line up with the theme, “Africa: Shaping Fashion’s Future”

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NSE downgrades 7-UP from Special Pricing Status

October 23, 2017   Editor   No comments

The Nigerian Stock Exchange (“NSE”) has downgraded Seven-Up Bottling Company Plc from its “Special Pricing Status” category following the fall in share price of the company’s stock to below N100.

In a circular made available at the weekend, the NSE said that it would downgrade Seven-Up Bottling Company from a “High-Priced Stock” category to the general stock category with effect from Monday 23 October, 2017.

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Guinness Nigeria to restart drinks catering service – ‘Party Serve’

October 22, 2017   Editor   1 Comment

Guinness Nigeria Plc has reintroduced its pioneer drinks catering service called ‘Party Serve’. The ‘GN Party Serve’ is designed to cater to events requiring drinks and drinks service such as helping professional event planners and party planning enthusiasts provide better service to their clients regardless of event scale or size.

At the reintroduction of the new service, Guinness Nigeria’s Marketing and Innovation Director (Guinness & Spirits), Adenike Adebola remarked that with the re-introduction of GN Party Serve, customers are welcome to a wide array of complimentary goods and services, including drinks, cooling services, a customized bar, and a team of experienced mixologists and hostesses.

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House Panel summons soft drinks firms over high levels of additives found in drinks

October 20, 2017   Editor   No comments

An ad hoc Committee of the Federal House of Representatives has sent out summons to 91 carbonated soft drinks producers in the country to appear before it and respond to allegations of harmful additives found in some soft drinks sold in the country.

According to the directive, some of the companies invited to appear before the committee includes the Nigerian Botting Company Limited (NBC), makers of Coca-Cola, Fanta and Sprite soft drinks. Others are Seven-Up Bottling Company Plc; Sona Group; Guinness Nigeria Plc; Nestle Nigeria Plc; Jos International Breweries Plc; GlaxoSmithKline Nigeria Plc, and Cadbury Nigeria Plc.

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Pernod Ricard Q1 sales boosted by international brands, growth in China

October 19, 2017   Editor   No comments

Pernod Ricard, the world’s no 2 spirits company by sales reported a 2% revenue growth in the first quarter ended 30 September. The spirits maker said that sales rose to €2.29bn ($2.69bn), up from €2.25bn in the previous year.

The company said sales received a boost from its international brands, which grew 8% in the period and includes names like Absolut vodka, Jameson Irish Whisky, Ballantine’s and Malibu. The firm notes that its wines also had a strong quarter, posting 8% growth.

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International Breweries merger moves a step closer to completion, gets shareholders’ approval

October 19, 2017   Editor   No comments

International Breweries Plc (“IBPlc”), said on Thursday that its shareholders and the shareholders of Intafact Beverages Limited and Pabod Breweries Limited (the “merging entities”) have approved the merger of all three companies.

With approval received from the shareholders of the merging entities, the company said it will will seek final regulatory approvals from the Nigerian Securities and Exchange Commission (“SEC”) and the Nigerian Stock Exchange (“NSE”), as well as the sanction by the Federal High Court (“FHC”), after which, the merger becomes effective.

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