Leading beer firm Nigerian Breweries Plc (“NB”) said that increased competition and a new excise duty rate increase on domestically produced alcohol and tobacco which came into effect last year has had an adverse impact on its 2018 full year results.
The maker of Star Lager and Gulder said that full year revenue declined by 5.8% to ₦324bn, while net profit for the year was down by 41.2% to ₦19.4bn.
The National Union of Food, Beverage and Tobacco Employees (NUFBTE) has hailed President Muhammadu Buhari for suspending the proposed tariff hike on locally produced alcohol and tobacco products.
The union said that the suspension of the initial plan by the Federal Government to increase excise tariff by more than 500% on spirits, wines and tobacco products saved over 165,000 jobs.
PepsiCo, the company behind such brands as 7Up, Pepsi Cola, Mountain Dew, Aquafina bottled water, among others reported a 2% revenue growth for the full year 2018 to $64.6bn. Fourth quarter sales was flat at $19.5bn.
The company said that fourth quarter net income rose to $6.85bn compared to a loss of -$710m in the same period in 2017, while full year net income grew to $12.55bn, from $4.9bn in the previous year, due to a one-time $2.5bn tax charge related to the new U.S. tax law.
Coca-Cola Hellenic Bottling Company (CCHBC) has acquired Serbian confectionery company Bambi in a deal valued at €260 million.
Bambi, which was formed in 1967, manufactures a range of products, including biscuits, wafers and savoury snacks. Its brands include Bambi, Plazma, Wellness, Zlatni Pek, and Josh.
Alomo Bitters, an alcoholic bitters drink from the stable of Kasapreko Limited, a Ghanaian manufacturer of alcoholic and non-alcoholic beverages said it sold 580,000 cartons of the product in Nigeria in 2018, translating to 13.9 million bottles.
According to the Nigerian Sales Representative for Kasapreko Limited, Mr John Adesoye, the product which sells for between N150, N250 and N850 and comes in 100ml, 200ml and 750ml bottles, are called Kasapreko Alomo, Kalahari K20 and Alomo Sachet.
Coca-Cola HBC AG, the parent company of the Nigerian Bottling Company Limited (NBC) and group bottler in 27 European countries said 2018 full year revenue grew by 2.1% to €6.7bn.
Sales growth was driven by a 4.2% volume growth across all segments, buoyed by Sparkling beverages. However, Italy and Nigeria saw volume declines, with the company faced with a competitive environment in Nigeria.
Chellarams DMK Limited, the dairy arm of Chellarams Plc, has extended its Real Activ product line with the launch of Real Activ Chocolate Malted food drink.
According to the company, the drink which contains twelve essential nutrients with immense nutritional benefit is targeted at children who need to be active in school and at play and adults who require constant energy for work even as it contains the appropriate amount of sugar needed.
Beverage giant Coca-Cola on Thursday announced its results for full year 2018. The company reported a 10% decline in revenue to $31.9bn, down from $35.4bn in 2017, with sales falling 6% in the fourth quarter to $7.1bn. The company blamed the decline on costs associated with bottler refranchising of company owned operations and currency headwinds.
Heineken N.V. on Wednesday reported a decline of 1.6% in net profits for the full year 2018 to €1.9bn, caused by a €183m impairment charge in the Democratic Republic of the Congo (DRC) and acquisition costs from Brazil. In the same period in 2017, the company recorded €2.2bn in profits.
However, the company said that total revenue for 2018 grew by 3.7% to €26.81bn from the previous year, with total beer volumes up by 4.4%, helped by a boost from its Heineken brand, which grew 7.7%, its best performance in a decade. The Dutch brewer notes that its newly launched Heineken® 0.0 is now sold in 38 countries, from 17 in 2017.
The Coca-Cola Company has announced it will launch its first new trademark Coca-Cola flavour in the US in more than a decade.
The beverage giant said that the new trademark Orange Vanilla Coke and Orange Vanilla Coke Zero Sugar will be available as of 25 February.
Speaking on the launch, Coca-Cola Brand Director, Kate Carpenter, said “We wanted to bring back positive memories of carefree summer days.
