Daily Archives: August 1, 2019

Champion Breweries profit surge in half-year, lifted by strong sales growth

Champion Breweries Plc, reported over 650% growth in net profit for the six months to the end of June, bolstered by strong sales growth.

Net profit was up N99m from N13m in the previous year, driven by a sales jump of 54% to N1.62bn.

The maker of Champion Lager and Champ Malta saw a 39% spike in cost of sales, with gross profit rising 84% to N640m.

Akwa Ibom ventures into ranching; acquires 2,000 cows from Brazil

The Akwa Ibom State Government has announced that it has imported 2,000 cows from Brazil, with the aim of ensuring food sustainability in the state.

The State Commissioner for Information, Charles Udoh, made this known in a media briefing with journalists in Uyo. He added that the state government had adopted a holistic agriculture plan on food security.

“The ranch was established in conjunction with foreign investors. The cattle have been quarantined. You know in the heat of the election, nobody wanted to venture into that ranch. And in the heat of that too, the Commissioner for Agriculture lost his seat.