Champion Breweries Plc, on Friday reported a 70% rise in profit for the first quarter of 2018 to ₦67 million. In the same period last year, the company recorded ₦39.5 in profit.
The brewer best known for its Champion Lager and Champ malta drink was helped by a 2% growth in revenue to ₦1.1 billion and a 9.4% reduction in cost of sales. But the biggest impact to net profit came from increased selling and distribution expense which rose by 55.23% to ₦121 million.
Beta Glass Plc, said that first quarter sales grew 45% to ₦6.4bn, from ₦4.4bn in the preceding year.
The company which makes glass bottles and metal crowns for the beverage industry and others said that Operating Profit, which measures a business profitability after subtracting Operating Expenses but before interest and taxes surged 48% to ₦1.36bn from ₦916m, helped by the strong sales growth.
Cadbury Nigeria Plc, said if it wasn’t for soaring net finance charges, shareholders would have found more to cheer about in its first quarter results.
The Bournvita maker said that revenue grew 2% in the first three months of 2018 to ₦8.2bn, from ₦8bn in the previous year.
Guinness Nigeria Plc, on Friday reported results for the first nine months of its financial year through March 2018, with revenue rising 17.39% to ₦105bn from ₦90bn in the previous year, sustaining a growth momentum begun in June ending 2017, when the firm regained profitability.
In recognition of Guinness Nigeria’s commitments to quality and excellence, one of its brands, Satzenbrau Premium Pilsner Lager has been awarded Gold in the 2018 Monde Selection Awards in Brussels, Belgium.
Monde Selection is an international and independent Institute that recognizes brands across the world for taste and quality.
Nigerian Breweries Plc (“NB Plc”), on Friday, 27th April 2018 unveiled Tiger Lager into the Nigerian market, heightening competition in the nation’s beer market.
The brand which is an International Premium (“IP”) Asian beer will be paired up with Heineken’s own brand Lager beer as Nigerian Breweries assembles its best performing global premium beers to defend its turf in what appears to be a beer war against AB InBev’s International Breweries Plc, who last weekend launched Budweiser beer into the market.
Nigeria is set to harmonize its standards with other African countries by adopting the African Standards on sugar and sugar products as well as develop Nigeria Industrial Standards for Glucose and Sucrose.
A technical committee chaired by the Standards Organisation of Nigeria (SON) met recently at its Lagos office to consider adoption of some African Standards under the aegis of African Organisation for Standardization (ARSO) and the development of other Nigeria Industrial Standards.
LaLiga and AJEAST Nigeria Limited, the makers of Big Cola soft drinks, have announced the signing of an agreement under which the multinational beverage company has become LaLiga’s latest regional partner in Nigeria.
PepsiCo on Thursday reported its first quarter results for 2018, with revenue growing 4% to $12.6bn from $12bn in 2017. The growth was helped by a 3% sales rise in its Frito-Lay North American snacks business.
On the International front, the company reported strong growth in Latin America and Europe Sub-Saharan Africa, which recorded 14% and 15% growth, respectively.
The soft drinks giant said its Quaker Foods North American division had flat sales, while its North American Beverages unit, which houses its soda drinks declined by 1%.
“North American beverages sector continues to work through some challenges,” said the company’s CEO Indra Nooyi.
The Coca-Cola Company reported a profit increase of 16% in the first quarter of 2018 to $1.37bn, thanks in part to initiatives implemented to drive profitability through revenue growth management initiatives.
