BUSINESS

Heineken sees marginal profit decline in 2018

BUSINESS
Heineken N.V. on Wednesday reported a decline of 1.6% in net profits for the full year 2018 to €1.9bn, caused by a €183m impairment charge in the Democratic Republic of the Congo (DRC) and acquisition costs from Brazil. In the same period in 2017, the company recorded €2.2bn in profits. However, the company said that total revenue for 2018 grew by 3.7% to €26.81bn from the previous year, with total beer volumes up by 4.4%, helped by a boost from its Heineken brand, which grew 7.7%, its best performance in a decade. The Dutch brewer notes that its newly launched Heineken® 0.0 is now sold in 38 countries, from 17 in 2017. The company said that operating profit margin declined by 6.4% due to the first time consolidation of Brazil, rising input costs and adverse currency headwinds. Heineken no

Coca-Cola to launch Orange Vanilla Coke flavour in the US

BUSINESS
The Coca-Cola Company has announced it will launch its first new trademark Coca-Cola flavour in the US in more than a decade. The beverage giant said that the new trademark Orange Vanilla Coke and Orange Vanilla Coke Zero Sugar will be available as of 25 February. Speaking on the launch, Coca-Cola Brand Director, Kate Carpenter, said “We wanted to bring back positive memories of carefree summer days. “That’s why we leaned into the orange-vanilla flavor combination – which is reminiscent of the creamy orange popsicles we grew up loving, but in a classically Coke way.”​ The Coca-Cola North America innovation team developed the new variant in less than a year – from concept, to testing, to launch. The company said a full marketing campaign will support the launch across TV, social, digital, o

Int’l Breweries appoints Richard Rivett-Carnac as a Non-Executive Director

BUSINESS
International Breweries Plc, the Nigerian subsidiary of Anheuser-Busch InBev (AB InBev) has announced the appointment of Mr Richard Rivett-Carnac to its Board as a Non-Executive Director. In a statement, the company said that Mr Rivett-Carnac is the Mergers and Acquisitions/Treasury Director for AB InBev Africa, based in Johannesburg, South Africa. He is a Chartered Accountant and was an investment Banker with Barclays Capital U.K. He also worked with KPMG ABMiller group in 2009. Mr Rivett-Carnac holds a Bachelor of Business Science degree from the University of Cape Town and a Bachelor of Commerce Honours (Accounting) from the University of Natal Durban. He is a member of the South African Institute of Chartered Accountants. Mr Richard Rivett-Carnac replaces Mr Phillip Redman who recently...

Drinking hibiscus tea may help reduce cardiovascular disease risk, says new study

BUSINESS
A team of scientists from Nigeria and Britain studying the effects of consumption of hibiscus tea on cardiovascular health has found significant increase in ‘flow-mediated dilation’ of the brachial artery after participants consumed hibiscus tea after a meal. Flow-mediated dilation refers to the widening of an artery when blood flow increases in that artery, considered a gold standard to measure vascular endothelial function. The results led the researchers, who came from Bayero University in Zaria and University of Reading in the UK to conclude that consuming the extract of Hibiscus sabdariffa flowers after a meal improved vascular function and “may be a useful dietary strategy to reduce endothelial dysfunction and cardiovascular disease risk, although this requires confirmation.” However

Demand-side pressure led to the re-purposing of our Enugu production plant, says NBC

BUSINESS
The Nigerian Bottling Company Limited (NBC) has said that demand-side pressure on its products was the reason for the closure of its Enugu production plant. The beverage giant, who is the sole bottler of Coca-Cola products in the country, announced in January that it was closing production at the Enugu plant and would re-purpose the facility as a material handling and logistic hub for the South East region. “The NBC Enugu facility is being transformed into a top material handling and logistics hub for the region, to better satisfy our customers and grow our market in Nigeria,” he stated. Responding to concerns in some quarters over the closure, the Managing Director of NBC, George Polymenakos, said the repurposing of some NBC facilities across Nigeria, Enugu inclusive, was in line with the

Pressure led us to re-purpose our Enugu plant – NBC

BUSINESS
The Nigerian Bottling Company Limited (NBC) has said that demand-side pressure on its products was the reason for the closure of its Enugu production plant. The beverage giant, who is the sole bottler of Coca-Cola products in the country, announced in January that it was closing production at the Enugu plant and would re-purpose the facility as a material handling and logistic hub for the South East region. “The NBC Enugu facility is being transformed into a top material handling and logistics hub for the region, to better satisfy our customers and grow our market in Nigeria,” he stated. Responding to concerns in some quarters over the closure, the Managing Director of NBC, George Polymenakos, said the repurposing of some NBC facilities across Nigeria, Enugu inclusive, was in line with the

Emmanuel Agu joins JOTNA as new Group Marketing Director

BUSINESS
The management of JOTNA Nigeria Limited has appointed Emmanuel Agu as its new Group Marketing Director. Agu, a former Portfolio Manager-Mainstream Lager, Nigerian Breweries Plc joined JOTNA in December, 2018. In his new role, he is charged with the responsibility to form and lead a new Marketing team of JOTNA Nigeria Limited made up of TLCC (The La Casera Company – Carbonated Soft Drinks and Water), Prima Corporation Limited ( Preforms and Caps ), EngeePet Manufacturing Company Nigeria Limited ( Pet Resins ) and Gilon Distribution Limited. He is also expected to manage an array of brands including La Casera Apple drink, Smoov Chapman, Bold Bitter Lemon, Nirvana Range of Water (Premium Table Water, Soda Water and Tonic Water); just as he has the responsibility of leading teams of talented M

CWAY enters the energy drinks market with launch of MACA Energy drink

BUSINESS
CWAY Foods and Beverages Nigeria Limited, the company best known for its fruit-based milk drinks said it has entered the energy drinks market with the launch of MACA energy drink. According to the company, MACA energy drink is caffeine-free with, MACA extracts. The company added that its primary target market are busy professionals, athletes, students of higher institutions, travelers, fun lovers, and more, as it helps to boost physical and mental activities. As part of its launch, the company is currently giving away packs of MACA energy drinks. To win a pack of MACA Energy Drink, simply follows the brand on: • Facebook: https://www.facebook.com/pg/MacaEnergyDrink/posts/ • Twitter: https://twitter.com/MACAEnergyDrink • Instagram: https://www.instagram.com/macaenergydrink/ “Tell us one of