International Breweries Plc (“IB Plc”) said it rang-up a net loss of ₦7.1bn for the first nine months of 2018. This is despite seeing a revenue growth of 128% to ₦83bn in the period from ₦36.5bn in the prior year.
The Nigerian unit of Anheuser-Busch InBev said skyrocketing net finance cost was to blame as it rose 187% to ₦9.2bn.
Higher sales boosted net earnings of Beta Glass Plc in the first nine months of 2018.
In the release of its financial results, the company said that net income rose 58% to ₦3.5bn in the periods, January-September, from ₦2.2bn in the same period last year.
Nestle Nigeria Plc reported a net profit growth of 44% in the nine months to the end of September.
The maker of Milo chocolate drink said that profit hit ₦33bn in nine months, with the growth accelerating in the third quarter, helped by an 85% drop in net finance cost to ₦1.27bn from ₦8.6bn.
Anheuser-Busch InBev said its profits for the third quarter of 2018 fell 37.4% to $1.6bn from $2.6bn in the prior year, and declined 11.7% to $5.2bn from $5.9bn in the nine months to the end of September. The drop came amidst a 10% drop in third quarter revenue to $13.2bn and a 3.5% decrease in nine months sales to $40.4bn.
CHI Limited, a leader in the juice and dairy segment has unveiled its Hollandia Choco Malt 3-in-1 Ready-to-drink in 180ml pack size.
According to the firm, the new pack is intended to provide an entry point for adults and upsize for kids, while building on the commercial success the brand is enjoying following its launch in 2017.
Guinness Nigeria Plc, said its profit for the first quarter (Jul – Sept) surged 1,919% to ₦836m from ₦41.3m. The surge was as result of an 83% reduction in net finance charge to ₦436m from ₦2.6bn in the previous year, benefiting from a ₦40bn rights issue the brewing company launched in 2017.
Nigerian Breweries Plc (“NB” Plc) is feeling the impact of a new excise duty rate for alcohol that came into effect in June as the brewing company reported a net profit decline of 38% to ₦14.8bn ($40.7 million) in the 9-months to the end of September.
Nigerian Breweries Plc, announced on Thursday the appointment of Mr Steven Lucien Marie Siemer to its Board as a Non-Executive Director. Mr Siemer is currently the Regional Finance Director for Africa, Middle East and Eastern Europe at Heineken N.V.
He joined the Heineken group in 1990 as Marketing Controller, Heineken Netherlands and has thereafter held senior management and directorate positions within the finance, control, accounting and marketing functions in Heineken operating companies in Spain, Austria, Ireland and the Netherlands.
Heineken N.V. said its profits grew 8% in the third quarter to €1.6bn from €1.48bn in the same period in 2017, benefiting from a 4.6% consolidated beer volume growth across all regions.
In a trading update on Wednesday, the Dutch brewer said that its Heineken brand grew 9.2% in beer volume with much of the growth coming from Brazil, Mexico, Vietnam and South Africa.
Guinness Nigeria Plc paid out a total dividend of ₦4.03 billion to its shareholders for the financial year ended, June 30, 2018, translating to a dividend of ₦1.84 per share.
Speaking at the 68th Annual General Meeting of the company, Chairman of Guinness Nigeria, Mr. Babatunde Savage, disclosed that the dividend represented an improvement of 318% compared to a dividend of ₦963.77 million declared in 2017.
