Beta Glass Plc reported 15% revenue growth for the first nine months of its financial year through 30th September 2019.
Sales increased to N21.9bn from N19.2bn in 2018. The third quarter was particularly strong with N7.5bn rise in sales, a 24% increase.
The company continued to keep costs down with selling and distribution expenses as well as admin expenses declining by 14% and 30% respectively. Operating profit grew by 17% in the nine months to N4.9bn and by 49% in the third quarter alone.
Nestle Nigeria Plc has announced the resignation of one of its Board members.
In a letter released to the Nigerian Stock Exchange (NSE) on 29 October 2019, the food and beverage firm said that Mrs Ndidi Okonkwo Nwuneli, an independent non-executive director of the company has by a letter dated 20 October 2019 informed the Board of her decision to resign as a Director of the Company effective from that date, due to her ongoing fellowship at the Harvard Kennedy School.
Nestle Nigeria Plc reported modest gains in sales and profit for the nine months to the end of September.
The food and beverage giant posted an 11% increase in net profit for the period, helped by a 4% sales growth. Revenue climbed to N211.3bn from N203bn in the previous year. Sales in the third quarter grew marginally by 2% resulting in a quarterly net profit decline of 9%.
The company benefitted from a sharp drop in net finance cost, which fell to N496m from N1.3bn, a 61% decline.
Pernod Ricard has introduced Seagrams Imperial Blue whisky brand into the Nigerian market with an aim to further bolster its presence in Sub-Saharan Africa.
The Whisky brand which is a perfect blend of quality grain spirits and imported scotch malts was unveiled at an exclusive launch event before a select audience of consumers, lovers of the brand and media personalities recently in Lagos.
The Federal Government on Saturday inaugurated a mini milk collection centre in Tassa Village in Dawakin Kudu Local Government Area of Kano State.
Speaking at the event, the Minister of Agriculture, Sabo Nanono, said that the centre would alleviate the plight of milk sellers and improve their business.
One of Nigeria’s leading evaporated milk brands, Hollandia Evap Milk, has launched a new marketing communication campaign. Aimed at inspiring and enabling consumers to achieve their daily goals, the campaign strengthens the milk brand’s position as the all-rounder evaporated milk and positions it as the perfect accompaniment to a wide variety of breakfast meals, foods and drinks, such as cereals, custard, pancakes, smoothies, tea, coffee, and chocolate beverages.
Carlsberg, the Danish beer giant has unveiled what it says is the world’s first paper beer bottle made with sustainable and recyclable wood fibres.
The company said it forms part of Carlsberg’s Together Towards Zero initiative, which includes a commitment to reach zero carbon emissions and a 30% reduction in its “full-value-chain carbon footprint” by 2030.
Anheuser-Busch InBev is said to be pioneering a new technology that prints its label designs directly on bottles instead of on paper.
The new technology which is already being tested in the UK could be rolled out globally if successful. The new scheme has environmental and cost benefits due to the reduction in paper.
International Breweries Plc on Monday reported yet another dismal result for the nine months to the end of September.
The brewing company posted a staggering N16.4bn in net loss for the periods of January through September ending, a 130% increase from last year when it incurred a net loss of N7.1bn. The firm recorded N9.6bn of its losses in the third quarter, a 124% increase from the previous year.
This is despite posting a 17% increase in sales in the nine months to N97.2bn. The growth, however, slowed down in the third quarter with a 5.5% decline in sales.
Champion Breweries Plc on Monday reported revenue growth of 46% for the nine months to the end of September. Sales grew to N4.8bn from N3.3bn in the same period in the previous year.
Gross profit was up 57% to N1.08bn. The company’s revenue was driven by increased selling and distribution cost, which rose by 37% to N864m, and by 66% in the third quarter alone.
Operating profit jumped by 158% to N407m. The company also benefitted from a 100% decrease in net finance cost.
