Daily Archives: June 26, 2019

Chellarams ends year with N2.8bn loss amid rising cost, competitive pressure

Chellarams Plc, the diversified conglomerate with significant interest in the dairy sector as well as in industrial chemicals and machinery reported a net loss of ₦2.8bn for the full year ending on 31st March 2019.

The maker of Oldenburger, Regal and Real milk brands said that rising costs of sales hurt margins leading to a net loss. Despite a 28% rise in sales to ₦11.2bn, cost of sales skyrocketed by 55% to ₦10.7bn from ₦6.9bn in the previous year leading to a Gross Profit decline of 71% to ₦527m.

International Breweries flags-off 2019 Kickstart Programme

International Breweries Plc., a member of ABInBev brewer, has flagged off the 2019 edition of Kickstart, an innovative youth entrepreneurship programme that empowers young people with the financial muscle and training to implement different entrepreneurial ventures.

The company also unveiled its new foundation, International Breweries Foundation.

Nigerian Breweries launches Series 3 and 4 of Commercial Paper Programme

Nigerian Breweries Plc on Tuesday announced the continuation of its N15bn Commercial Paper Programme with the launch of Series 3 and 4 of the programme which opened on the 24th of June, 2019.

The company noted that while Series 3 would be for a tenor of 91 days, Series 4 would be for 172 days, and the aim is to raise up to N15 billion to support the Company’s short terms funding needs.