Daily Archives: July 29, 2019

Nestle Nigeria half-year profit rise 22%

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.

AB InBev’s Q2 sales impacted by a difficult lapping effect 2018 comparison

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.