Anheuser-Busch InBev on Friday reported a drop in second quarter profit as it took a one-time extra-ordinary charge of $1.77bn related its $100bn plus acquisition of SABMiller.
The brewer of Budweiser, Stella Artois, Skol, among others hedged £45bn ($59.36bn) towards the deal in December at an average rate of $1.53 per pound. When Britain voted in favour of leaving the European Union, the currency’s value fell to $1.33 a pound on June 30, when the company’s second quarter ended.
Coca-Cola said on Wednesday that second quarter net income rose 11% to$3.45bn, from $3.11bn earned in the same period in 2015.
The Atlanta-based soft drinks maker said that net income included non-cash gains from the deconsolidation of its German bottling operations, partially offset by charges from restructuring and re-franchising of its North American territories.
Cadbury Nigeria Plc, said on Wednesday that revenue for the six months ending in June 30, 2016 fell by 1.6% to N13.9bn, from N14.1bn in the same period a year ago.
While revenue was off by 1.6%, the maker of Bournvita posted a healthy profit after tax of N147m for the period, a 159% increase from 2015.
Nigerian Breweries Plc, said on Wednesday that net income for the second quarter 2016 fell 24% to N8.6bn, from N11.4bn recorded in the same period in 2015.
The brewer of Star Lager, Gulder, among others hinted in a released statement accompanying its first quarter results in April that trading conditions in Nigeria remained tough amid a weaker consumer environment caused by the slump in global oil prices. The company predicted that forthcoming quarters in 2016 would be more difficult despite a better than expected Q1 result.
PepsiCo, the soft drink giant behind such brands as Pepsi, 7-Up, Mountain Dew, among others said on Thursday that revenue for the second quarter of 2016 declined 3.3% to $15.4bn, from $15.92 billion, weighed down by a stronger dollar, the de-consolidation of its Venezuelan operations and currency-driven headwinds in Latin America (32%), Europe and Sub-Saharan Africa (4%). PepsiCo said that its Asia, Middle East and North America (AMENA) division saw a 3% rise in revenue.
