Tag Archives: Q1 2016

FX woes push International Breweries to first quarter loss


International Breweries Plc on Thursday reported a net loss of N1.7bn for the first quarter of 2016/2017 fiscal year, a drop from last year when the brewer recorded N421m in profit.

Remy Cointreau Q1 revenue slip -2.1% on weaker sales in China

French spirits maker Remy Cointreau reported a -2.1% revenue decline in the first quarter (April – June) of 2016/2017 fiscal year.

The maker of Remy Martin, Cointreau Liquor, Mount Gay, among others said that €218.6m ($241m) revenue recorded in the first quarter as against €223.3m in the same period in 2015 was partly due to weaker sales of its premium cognacs in Asia and advance shipments in the previous quarter ahead of price hikes.

SABMiller’s Q1 revenue rise 2% despite persistent headwinds in Africa

SABMiller on Thursday said net producer revenue for the first quarter rose 2% as it continues to battle economic volatility in key markets in China and Africa.

The maker of Castle Lager, Hero and Grand Lager beer, among others said that volumes in its African markets were weighed by economic volatility and challenging trading conditions.

Coca-Cola HBC revenue hit by currency headwinds, strong Euro in first quarter 2016

Coca-Cola HBC, said that weak currencies in emerging markets and a strong Euro combined to hit revenue in the first quarter of 2016. It noted that if the effect of currency movements were removed, sales would have risen 2%.

The bottler of Coca-Cola brands in 28 countries including Nigeria said that net sales revenue fell 2.7% to €1.32bn, from €1.35bn in the same period a year ago. Volume growth for the group was flat at 439m cases, helped by increases in developing and emerging markets.

AB InBev suffers weak start to year as first quarter revenue decline 10%

Anheuser-Busch InBev, said unfavorable currency effects, one-off financing costs and weak business in Brazil, one of its biggest markets caused earnings in the first quarter to fall 10%.

The maker of Stella Artois, Budweiser, Corona, among others, said that revenue for the quarter fell 10% to $9.4bn, from $10.453bn a year earlier.

GSK Consumer Nigeria posts 37% profit decline in the latest quarter

GlaxoSmithKline Consumer Nigeria Plc, the company behind beverage brands Lucozade and Ribena, among others, said on Thursday that its net income for the period January – March 31 2016 declined 37% to N188m, from N297m in the same quarter a year earlier.

Nestle Nigeria’s first quarter net profit jump 126%

Nestle logo

It should be all smiles at Nestle Nigeria Plc as the consumer goods company posted one of its best quarterly performances in years with a 126% rise in net profits to N6.7bn, from N3bn in the same period a year ago.

Nestlé’s revenue trajectory for the first quarter rose 31% to N36bn, from N28bn in the same period a year ago.

Beta Glass Q1 2016 net profit drop 85%

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.

Nigerian Breweries starts year with momentum as sales rise 11% in first quarter

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.