Pernod Ricard Q1 sales boosted by international brands, growth in China

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Pernod Ricard, the world’s no 2 spirits company by sales reported a 2% revenue growth in the first quarter ended 30 September. The spirits maker said that sales rose to €2.29bn ($2.69bn), up from €2.25bn in the previous year. The company said sales received a boost from its international brands, which grew 8% in the period and includes names like Absolut vodka, Jameson Irish Whisky, Ballantine’s and Malibu. The firm notes that its wines also had a strong quarter, posting 8% growth. “We have had a very good start to the year, with our growth accelerating and diversifying in terms of both markets and brands,” said CEO Alexandre Ricard. The spirits maker said that its first quarter sales were driven by a stepped-up Chinese demand for its high-margin Martell cognac and Chivas whisky resulting

House Panel summons soft drinks firms over high levels of additives found in drinks

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An ad hoc Committee of the Federal House of Representatives has sent out summons to 91 carbonated soft drinks producers in the country to appear before it and respond to allegations of harmful additives found in some soft drinks sold in the country. According to the directive, some of the companies invited to appear before the committee includes the Nigerian Botting Company Limited (NBC), makers of Coca-Cola, Fanta and Sprite soft drinks. Others are Seven-Up Bottling Company Plc; Sona Group; Guinness Nigeria Plc; Nestle Nigeria Plc; Jos International Breweries Plc; GlaxoSmithKline Nigeria Plc, and Cadbury Nigeria Plc. Also invited to appear before the panel is Nigerian Breweries Plc (“NB”); Nigerian Distilleries Limited (“NDL”); Champion Breweries Plc; International Breweries Plc (IBPlc”);

Nestle Nigeria unveils new ad celebrating farmers whose work make Golden Morn available to families

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Nestle Nigeria Plc, makers of Golden Morn, a cereal made from maize and soya has just unveiled a new ad on the back of the brand’s packaging featuring three sets of photos of farmers who grow the maize and soya used in making the product. The company said it is part of its creating shared value to celebrate the farmers whose labour of love brings Golden Morn to families across Nigeria. Golden Morn was introduced in Nigeria more than 24 years ago. The company noted that part of creating shared value is supporting farmers by making sure food is available to their families and they have all training they need to run profitable farms. “For every pack of Golden Morn you buy, you leave smiles on the faces of the Golden Morn farmers and their families,” the company said. Watch the videos below an

International Breweries merger moves a step closer to completion, gets shareholders’ approval

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International Breweries Plc (“IBPlc”), said on Thursday that its shareholders and the shareholders of Intafact Beverages Limited and Pabod Breweries Limited (the “merging entities”) have approved the merger of all three companies. With approval received from the shareholders of the merging entities, the company said it will will seek final regulatory approvals from the Nigerian Securities and Exchange Commission (“SEC”) and the Nigerian Stock Exchange (“NSE”), as well as the sanction by the Federal High Court (“FHC”), after which, the merger becomes effective. IBPlc, announced in early June that its board as well as the Board of Intafact and Pabod had agreed to explore a merger of their respective operations subject to regulatory and shareholder approvals. All three companies are indirect

Asia Pacific lifts Rémy Cointreau’s half-year sales

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Rémy Cointreau said on Tuesday that first-half sales of its 2017/18 financial year through 30 September grew 6% to €544.4m ($639m), buoyed by its Rémy Martin cognac brand which reported 13.8% sales growth to €367m. The maker of Cointreau liqueur and Mount Gay rum said that it saw organic growth in all regions, with Asia Pacific region delivering remarkable performance, driven by strong momentum in Greater China and Singapore, as well as improved trends in Japan. The Americas region was bolstered by a strong second-quarter in the United States amid a favorable environment for cognac upscaling. Europe, Middle East and Africa (EMEA) region also posted strong results, driven by strong performances in Russia, Central Europe and a new phase of expansion in Africa. The group said that its liqueur

Nearly all dairy products consumed in Nigeria are imported, says Dangote

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Aliko Dangote, Chairman, Dangote Group, says 98% of all dairy products consumed in Nigeria are imported. “Ninety-eight per cent of all the milk and dairy products we consume in Nigeria are imported. “This is why Dangote Group has planned to develop dairy plants, and develop homegrown milk production, to reduce importation,” he said. The Chairman of Nigeria’s largest conglomerate made the assertion on Monday while speaking to some students of the Executive MBA class of the Lagos Business School who visited the Dangote Petrochemical Refinery. The Dangote Group announced in July of its plans to expand into dairy production starting in 2018. He added that the nation was at risk of hunger in the next few years if the mass food importation was not checked. “By 2020, it is estimated that the Nige

Nigeria Customs applauds Guinness Nigeria on payments, vows stronger ties

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Guinness Nigeria Plc has been commended for strong compliance and due diligence in remitting its tax and statutory obligations to the Nigeria Customs Service (NCS). Customs Area Controller (CAC), Lagos Industrial, Nigeria Customs Service, Comptroller Morenike Oladunni, made the commendation during a visit to the company on Monday, October 16, 2017. She said Guinness Nigeria’s impressive compliance with respect to the disbursement of excise duties is not only noteworthy but a reflection of its enviable corporate governance standards. Mrs Oladunni commended Guinness Nigeria on a number of stellar performances, especially regarding the timely remittance of obligatory dues and excise duties into the nation’s coffers. She also thanked the company for being one of the few companies that goes fur

After all but defeating the jihadists, Iraq’s army turns on the Kurds

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WHEN a leader loses half his realm and his government’s main source of revenue and shatters his people’s dreams of independence, all in a couple of days, an apology might seem in order. But Masoud Barzani, the president of Iraq’s Kurdistan region, is not offering one. In the face of a lightning Iraqi advance, Kurdish forces retreated this week from territory they had occupied since the fall of Saddam Hussein in 2003. Mr Barzani blamed “traitors” and said he would fight another day. The sudden collapse of Kurdish Peshmerga fighters, and with them the Kurds’ cherished dream of statehood, contrasts awkwardly with the inflated promises Mr Barzani made before the rout. Last month he insisted on staging a referendum on Kurdish independence, not just within the Kurdistan region’s original bord