Month: August 2018

Heineken sees growth acceleration in first-half despite lower operating profit warning for second-half

BUSINESS
Dutch brewer Heineken N.V said that net revenue for the first six months of 2018 grew 4.2% to €10.7bn, from €10.3bn in 2018. The company said that consolidated beer volume grew 4.5%, while Heineken brand own volume rose 7.5%, with positive momentum in all regions especially in Africa, Middle East & Eastern Europe and the Americas. The growth came from double digit gains in Brazil, South Africa, Russia, UK, Nigeria, Mexico, Poland, Germany and Romania. The company notes that it continues to benefit from global sponsorship platforms such as UEFA Champions League and Formula 1. Net profit rose to €950 million, from €871 million in 2017. Looking at the company’s performance by region, the firm reported 3.8% revenue decline in its Africa Middle East & Eastern Europe region. Currency tra

TransCorp to divest from fruit juice concentrate maker, Teragro

BUSINESS
Transnational Corporation of Nigeria (“TransCorp”) announced on Wednesday it will seek to divest its interest in fruit juice concentrate maker, Teragro Commodities Limited. In a press release, TransCorp said a careful review of the long term proposition of its play in the juice concentrate market revealed a number of issues. As a result of this, the Board decided to exit its investment in Teragro Commodities Limited and is currently working together with the Benue State Government, a key stakeholder, towards identifying suitable partners to drive the value proposition of the business going forward. Furthermore, the company said it reported in its 2017 Annual Report that it expects to close the transaction in a timely manner and maximize benefits for stakeholders and that the decision to ex

TransCorp to divest from fruit concentrate maker, Teragro

BUSINESS
Transnational Corporation of Nigeria (“TransCorp”) announced on Wednesday it will seek to divest its interest in fruit juice concentrate maker, Teragro Commodities Limited. In a press release, TransCorp said a careful review of the long term proposition of its play in the juice concentrate market revealed a number of issues. As a result of this, the Board decided to exit its investment in Teragro Commodities Limited and is currently working together with the Benue State Government, a key stakeholder, towards identifying suitable partners to drive the value proposition of the business going forward. Furthermore, the company said it reported in its 2017 Annual Report that it expects to close the transaction in a timely manner and maximize benefits for stakeholders and that the decision to ex

AB InBev sustains growth in half-year

BUSINESS
Anheuser-Busch InBev on Thursday reported a 4.7% revenue growth for the second quarter of 2018 and half-year respectively. The growth was driven by strong performance of its global premium brands and revenue management initiatives. The company said that total beer volumes grew by 0.8% in Q2 and by 0.3% in half-year. Combined revenues of its three global premium brands – Budweiser Stella Artois and Corona grew by 10.1% in Q2 and by 9.1% in half-year. Corona outperformed the other two global premium brands with a revenue growth of 21.9%, while Stella Artois grew 9% and Budweiser by 4.1%. The company notes that its integration with SABMiller continues to progress with synergy capture and cost savings of $199 million in the second quarter. Normalised profit for second quarter was $2.1bn versus