Beta Glass Plc, maker of glass bottles for bottling companies and brewers said its revenue declined by 24% to N3 billion, from N4 billion in the same period a year ago.
Beta Glass core glass making business is in decline as more beverage companies and brewers switch to cans and plastics packaging.
Guinness Nigeria Plc, known for its iconic Guinness stout, among other brands reported a pre-tax loss of (N448m) in the just released third quarter results ending 31 March 2016. Net income also fell into negative at (N308m). In the same period a year ago, the company recorded N2.5bn in pre-tax profit and N1.8bn net income respectively.
Nigerian Breweries Plc (NB) said on Thursday its revenue grew by 11% for the three months ended 31st March 2016, climbing to N77.5bn, from N69.9bn recorded a year earlier.
The brewer of Star Lager, Gulder and Legend Extra Stout, among others has been facing economic headwinds following a slump in global oil prices which has led to a drop in consumer demand.
SABMiller, the brewer in the midst of being acquired by its bigger rival, Anheuser-Busch InBev (AB InBev), said it sold 4% more lagers in the first three months of 2016 than it did in the same period a year ago.
The maker of Miller Lite, Castle Lager, Hero, among others said its revenue rose 7% in the quarter ended March 31 with volume rising 4%.
Coca-Cola’s revenue fell for the fourth straight quarter as weak demand in Europe and a strong dollar against other currencies cut into sales from other markets outside the United States, including Latin America.
Coke and its smaller rival, PepsiCo have been hurt as consumers increasingly turn away from carbonates and instead opt for healthier beverages such as teas, water, fruit juices and smoothies.
Dutch brewer Heineken NV said today it sold more beer in the first quarter of 2016 (Jan – Mar) than it expected, buoyed by 23% volume growth in Southeast Asia (Vietnam, Indonesia and Cambodia) and higher sales around the Chinese New year.
Greek refrigerator maker, Frigoglass, said on Thursday that its fourth quarter losses grew due to tough market conditions in Russia.
Frigoglass, which supplies Coca-Cola HBC and other European brewers, reported a net loss of €15.9m ($18.02m) for the fourth quarter of 2015, as against €6.2m loss incurred in the same period in 2014.
Nestle Nigeria, makers of a wide range of food and beverage products such as Milo, Cerelac, Nescafe coffee, among others released its full year 2015 financial results today showing a 7% rise in net profit to N23.7bn, from N22.2bn in 2014.
Anheuser-Busch InBev (AB InBev), the world’s largest brewer, released its 2015 full year financial results on Thursday reporting 11% revenue decline in the fourth quarter. The Belgium-based brewer reported $10.72 billion revenue over the period, from $12 billion. Net profit also fell 10% to $2.29 billion for the quarter, down from $2.53 billion a year earlier.
Coca-Cola Hellenic (HBC) AG, the bottler of Coca-Cola products in 28 countries, including Nigeria reported a 2.5% revenue decline in 2015 full year to €6.35bn ($7bn). Profits also fell 4.9% to €280.3m for the year despite volume growth.
The company said currency devaluations reduced revenue by 5.1 percentage points.
