The City of New Delhi in India has banned AB InBev from selling its products in the city for three years for allegedly evading paying local excise taxes.
According to the government citation, a three-year investigation by the authorities allegedly found that SABMiller, which was acquired by AB InBev in 2016 used duplicate barcodes on its beer bottles supplied to city retailers that year, which allowed it to pay lower taxes.
Beta Glass Plc on Tuesday reported revenue growth of 10% for the first half of the year through 30th June 2019, sustaining its growth momentum.
Revenue rose to N14.5bn from N13.1bn in 2018.
Budweiser, the premium beer brand from Anheuser-Busch InBev (AB InBev) has announced it will be launching a global campaign as it enters into a multi-year partnership with two of the world’s biggest soccer leagues, Premier League and LaLiga.
According to Chief Marketing Officer of AB InBev, Pedro Earp, “As the world’s most valuable beer brand, we will launch a global ‘Be a King’campaign in conjunction with these partnerships. This campaign will inspire fans around the world by bringing them closer to the kings of the game.
Nigerian Breweries Plc reported a net drop in profit of 28% for the first six months of 2019 ending on 30th June. Profits fell to N13.3bn from N18.4bn in the previous year. The drop accelerated in the second quarter with the company recording a 36% decline in earnings to N5.3bn from N8.2bn.
Ecobank Nigeria has announced the successful removal of two million plastic bottles from the streets and drains of Lagos State. The Pan African bank which launched the campaign in May had set a target of removing four million PET bottles from the environment as part of its environmental sustainability campaign. The bank rolled out the initiative in May telling Lagos residents to turn in their used plastic bottles in exchange for cash at designated locations across the state.
Heineken NV reported lower profits in the first-half, despite seeing a boost in global beer volumes. The company said that its earning was hit by aluminum costs as well as investments in e-commerce and technology upgrades, among others.
Consolidated beer volumes was up by 3.1%, with brand Heineken® growing 6.9% and in double-digits in Brazil, Mexico, South Africa, Russia, Nigeria, UK, Portugal, Germany and Romania. The company notes that Heineken® zero alcohol has expanded to 51 markets across the globe.
Coca-Cola Nigeria Limited (CCNL) has announced the appointment of Yebeltal Getachew as its new Managing Director.
According to a statement by Nwamaka Onyemelukwe, Coca-Cola Nigeria Public Affairs and Communications Manager, Getachew would take over from Bhupendra Suri. His responsibilities include leading and optimising profitable revenue and volume growth of Coca-Cola’s business in Nigeria under the West African Business Unit (WABU).
Nestle Nigeria Plc said on Friday that net profit for the first-half of the year ending on 30 June, 2019 grew by 22% to N26.2bn from N21.5bn in the previous year.
The profit rise was helped by a nearly 5% increase in revenue to N141.9bn from N135.2bn in 2018, and a 21% decrease in finance cost.
Global brewer Anheuser-Busch InBev (AB InBev) reported further decline in sales in the second quarter and half-year respectively despite measurable sales growth in key markets around the globe. Revenue fell marginally by 0.21% in Q2 to $13.96bn and by 1.98% to $26.6bn in the half-year, driven by lower volumes in such markets as Argentina where the consumer remains under pressure due to challenging macroeconomic conditions and in Canada where a weak beer industry persists. Also, the lapping effect of a successful 2018 FIFA World Cup in Russia sponsorship, the company’s largest commercial activation in history weighed on the brewer’s revenue.
The Central Bank of Nigeria has come out to clarify and defend its proposed policy with regards to milk importation it unveiled earlier in the week. In a late Friday statement on its website, the apex bank said that milk importation is not banned, only the sale of foreign exchange to milk importers will be restricted.
