Cream Liqueur sees growth with new players, more flavours

Cream liqueur is experiencing renewed growth in Nigeria, spurred by increased interest by consumers, particularly women. It is a favourite of women because it is a type of alcoholic spirits for people More »

Modular building technology firm sees growth opportunities in various sectors as economy recovers

Lange & Grant, an integrated projects development company with a complete in-house assembly line facility to produce large scale insulated sandwich panels, made with polyurethane foam for commercial projects said that the More »

Category Archives: Segment

PepsiCo reports higher sales for 2019

pepsico

New York-based PepsiCo, Inc said its sales grew by 4% in fiscal 2019 to $67.1bn, with the fourth quarter recording a 5.7% growth in sales to $20.6bn.

The company noted that its Frito-Lay North America snack business and PepsiCo North American business unit were partly responsible for lifting the company’s sales by 4% and 3% respectively.

PepsiCo gets South African regulatory approval to acquire Pioneer Foods

pepsico-pioneer foods

PepsiCo Inc said it has received approval from the South African Competition Commission to acquire South African-based Pioneer Foods. The Commission has recommended to the country’s Competition Tribunal the approval of the proposed transaction in which Simba (Pty) Ltd, a subsidiary of PepsiCo, intends to acquire Pioneer Foods Group Limited subject to certain conditions.

PepsiCo, through Simba, supplies several ready-to-eat products in South Africa under well-known brands which include Simba, Lays, Dorito’s, NikNaks and Fritos.

Beta Glass ends year with higher sales and profit

glass bottle manufacturing

Beta Glass Plc reported higher sales and profit for the full year ended 31 December 2019.

The glass bottle maker said that sales grew by 12% to N29.4bn from N26.3bn in the previous year. Cost of sales rose by 9% to N22bn.

Selling and administrative expenses saw a modest increase of 19% and 5% respectively.

Year ends with loss for Int’l Breweries

beer

International Breweries Plc posted yet another loss for the last quarter of the year.

The brewing company which is a subsidiary of Anheuser-Busch InBev (AB InBev) posted a net loss of N9.2bn in Q4 2019, bringing its total losses for the year to N25.6bn. In the same period in 2018, the company’s total loss was N4bn.

CBN grants forex waivers to five dairy companies to import milk; restrictions remain in place for others

milk

The Central Bank of Nigeria (CBN), on Monday, issued a circular granting foreign exchange waiver to five dairy companies to import milk into the country.

The companies which received forex waivers include FrieslandCampina WAMCO Nigeria; CHI Limited; TG Arla Dairy Products Limited; Promasidor Nigeria Limited; Nestle Nigeria PLC and Integrated Dairies Limited.

Cadbury’s Oreo cookie makes Guinness World Records

cadbury

Oreo cookie, one of the brands of Mondelez International, the parent company of Cadbury Nigeria Plc, has made it into the Guinness World Records.

In a statement, Cadbury Nigeria noted that the Oreo cookie brand reached a major milestone of $3.1bn in annual net revenues by the end of 2019.

Int’l Breweries lists additional shares on Stock Exchange

International Breweries Plc products

International Breweries Plc (IB Plc) has announced the listing of additional 18.266bn ordinary shares on the Nigerian Stock Exchange (NSE).

The additional shares are from its recent rights issue of 18.266bn Ordinary Shares of 50 kobo each at N9 per share.

With the new listing, the company’s total issued and fully paid-up shares has now increased from 8.595bn to 26.862bn ordinary shares of 50 kobo each. This translates to N164.39bn in market capitalization.

Guinness Nigeria post further profit decline amid stiff competition, impact of excise duty increase

guinness Nigeria

Guinness Nigeria Plc said that its revenue and profit continued to face market challenges in the first half of the year.

The drinks company reported a tepid rise in sales for the six months to the end of December. Sales rose by 1% to N68.3bn from N67.8bn in the same period in 2019.

Cadbury Nigeria posts higher sales and profits in full year

cadbury

Cadbury Nigeria Plc on Thursday reported higher sales and profit for the full-year 2019.

The beverage giant said that sales grew by 16% in Q4 to $10.4bn and by 9.3% in full-year to $39.3bn.

Gross Profit grew by 3% in the twelve months to $8.2bn, driven by an 11% increase in cost of sales. Costs jumped by 27% in Q4 resulting in an 11% decline in gross profit for the quarter.

Diageo half-year sales rise 4.2%

diageo

Drinks maker Diageo Plc on Thursday reported its first-half sales for the 2020 financial year. The Guinness maker said that revenue grew by 4.2% to £7.2bn from £6.9bn in the previous year, driven by organic growth, with the positive impact of foreign exchange being offset by the negative impact from the disposal of 19 brands.

It noted that all regions contributed to the growth, driven by productivity benefits from everyday cost efficiencies and strong price/mix, partially offset by cost inflation and up weighted marketing investment.