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 »

Nestle Nigeria appoints Juliet Ehimuan to its Board as an Independent Non-Executive Director

Juliet Ehimuan

Nestle Nigeria Plc has announced the appointment of Mrs Juliet Ehimuan to its Board as an Independent Non-Executive Director. According to the company, the appointment became effective on 24 February 2020.

The company said that Mrs Ehimuan, who is the Country Manager for Google in Nigeria since 2011 has over 25 years of professional work experience.

She started her career in 1995 and has worked for several companies in Nigeria and abroad including Shell Petroleum and Microsoft United Kingdom, Strategic Insight Consulting Limited, which she started and Chams Plc Strategic Business Unit.

Nestle Nigeria ends fiscal 2019 with higher revenue and profit

nestle

Nestle Nigeria Plc has reported earnings growth of 6% for the full year 2019. The food and beverage giant said that profit rose to N45.6bn from N43bn in 2018.

The company benefited from a 6.7% growth in revenue to N284bn. Nestle was also helped by operating profit rise of 19% to N72bn.

Nigerian Breweries fetes trade partners at 2020 Distributors Award

Nigerian_breweries_2020_distributors_award

Nigerian Breweries Plc has restated its commitment to business partners across the country. The brewing company made this known when it held its 2020 Distributors Award ceremony on Friday, 21 February 2020 at the prestigious Eko Hotel and Suites in Lagos. The event honoured and rewarded the company’s outstanding trade partners who excelled in 2019.

Nigerian Senate wades into Rites Foods, 7-Seven Up controversy

soft drinks

The Nigerian Senate last week tried to mediate between two warring soft drinks companies who are fighting for market share and economic survival.

According to the Senate Committee on Ethics, Privileges and Public Petitions, it said it received a petition from the management of Rites Foods Limited, an indigenous soft drinks company and makers of Bigi soft drinks over alleged threat to its security and existence by Seven-Up Bottling Company Limited, bottlers of Pepsi cola, Mountain Dew and others.

Nigerian Breweries ends year with lower profits

beer

Nigerian Breweries Plc reported yet another decline in profit for the full year 2019. The company said that profits fell by 17% to N16.1bn from N19.4bn in 2018. It would be the eight consecutive quarterly declines by the company.

Heineken reports strong growth in 2019

heineken beer

Dutch brewer Heineken NV said that profits increased by 13.2% in 2019 to €2.2bn from €1.9bn in the previous year, helped by robust pricing and focus on premiumisation.

Net revenue in the period was up 6.6% to €23.9bn, with total beer volume growth of 3.1%, driven by South Africa, Russia, Mozambique, Nigeria and the Democratic Republic of Congo (DRC).

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 N27.9bn. In the same period in 2018, the company’s total loss was N4bn.