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Guinness Nigeria takes Smirnoff X1 on road tour to boost sales

BUSINESS, New Products, News, NIGERIA, Nigerian state programs, wazobia companies
Guinness Nigeria Plc, said it is resolved to boosting sales of its Smirnoff X1 brand by taking it on a nationwide road tour. The company said that it has expanded its offerings by going into the local manufacture of spirits, adding that it recently launched additional brands such as Smirnoff X1 Intense Chocolate Vodka, and Gordon’s Dry Gin with Moringa Citrus Blend, while it has also started producing brands like McDowell’s, after obtaining distribution rights from Diageo’s United Spirits Limited. The firm said it has embarked on a nationwide party tour themed the Smirnoff X1 Tour. The tour is set to take over Nigeria’s night life with eight epic nights in seven cities within eight months. The cities the company plans to visit includes Owerri, Abuja, Benin, Port Harcourt, Jos, Ibadan and L

Coca-Cola HBC Q3 sales boosted by volume growth

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Coca-Cola HBC said on Thursday that net sales revenue in the third quarter grew by 5%, driven by a 3.4% volume growth across a broad range of countries. The Coca-Cola anchor bottler in 28 mostly European countries and Nigeria said that the overall volume increase is a testament to the strength of its execution across its markets. Net sales in the third quarter hit €1.8bn and €5.04bn in the nine months to the end of September, a 5.4% increase from the previous year. The company said that it saw a 2.2% volume increase in established markets in the third quarter, helped by a good tourist season and exceptionally warm summer weather in Southern Europe, while a 9.1% sales growth in developing markets was buoyed by a strong volume, positive price and category mix and a strengthening of currencie

Guinness Nigeria, FRSC partner to train drivers

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Guinness Nigeria Plc, in partnership with the Federal Road Safety Commission (FRSC) is set to organize a structured training programme for new drivers undergoing licensing by sensitizing them on road safety rules. The Managing Director of Guinness Nigeria, Mr. Peter Ndegwa, made this known during a press briefing to commence the 2017 FRSC/Guinness campaign for responsive drinking during the ember months. According to Ndegwa, the training will help increase the awareness on the need to ensure safety on the road by avoiding drink-driving. “Education and awareness will make a big difference. You have to let people know that drinking and driving do not, and should never meet,” he said. The Corps Marshal, Federal Road Safety Corps, Dr. Boboye Oyeyemi, who was represented by the Corps Public Edu

Global and regional priority brands lift Gruppo Campari’s nine months results

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Italian spirits firm Gruppo Campari reported a €1.27bn in revenue for the nine months to the end of September, an 8.1% increase over the previous year. The company behind brands such as Campari, Skyy vodka, Aperol, among others credits its sales growth to the performance of its high margin global and regional priority brands as well as a slightly positive exchange rate effect of 0.3%, driven by the progressive strengthening of the Euro against many of the group’s trading currencies. The company said it also benefitted from the combined perimeter effect of the Grand Marnier acquisition in July 2016, the termination of some distribution agreements and the sale of non-core businesses. Group Pre-tax profit rose 81.1% to €238.2m from €131.5m in the previous year. The company said that the Ameri

International Breweries narrows loss in half-year

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Ilesha-based International Breweries Plc said its losses in the first-half of the year (Apr – Sept) narrowed to N52m, from ₦1.9bn in the previous year. The brewer blamed the loss on unrealized foreign exchange loss which skyrocketed 894% in the six months to ₦983m ($2.7 million). The maker of Trophy lager said it had a particularly difficult second quarter as much of the FX loss came from this period, rising 4,238% to ₦945m ($2.6 million). The net loss in Q2 was even far much greater, at ₦1.2bn, from ₦216m. The FX loss had a material impact on cost of sales which grew 34% in the first-half to ₦9.4bn. Administrative expenses also weighed on the company’s earnings, leaping 34% to ₦3.6bn and rising nearly 50% in the second quarter to N2bn. Despite the loss, the firm said that revenue in the f

Champion Breweries records 57% profit growth in nine months

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Champion Breweries Plc said on Tuesday that net profit for the nine months to the end of September grew 57% to ₦152m ($419,000), up from ₦97m ($267,000) in 2016. The Akwa Ibom-based brewer said that profit growth was helped by a 25% sales lift which reached ₦3.3bn ($9 million) from ₦2.7bn ($7.4 million) in the previous year. Cost of sales grew marginally at 13.5% to ₦2.5bn ($6.9 million), helping boost Gross profit 58% and Operating Profit 73% to ₦171m ($471,000). Champion Breweries brews Champion Lager and Champ Malt which are marketed in Akwa Ibom and environs. The firm is an indirect subsidiary of Heineken N.V. $1 = 363Powered by WPeMatico

Tasty Time MD arrested for manufacture of unregistered beverages

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The Managing Director of Tasty Time Nigeria Ltd, Isaac Kole, was arrested on Thursday and arraigned before a Federal High Court in Lagos over alleged manufacture of fake and unregistered products. The National Agency for Food and Drug Administration and Control (NAFDAC) arraigned the accused alongside his company on a four-count charge bordering on producing fake products. In the charge sheet, NAFDAC’s Prosecutor, Mrs Okon Chinyere, alleged that Kole and his company had been using their plant to produce unregistered Tasty Time products. She identified the products as Tasty Time juice, Glucosaid Energy drink, Tasty Time Pops Orange flavoured drink, Tasty Time Fitz Apple drink and Tasty Time mixed Orange flavoured drink. The accused was also alleged to have packaged and labelled the products

Beta Glass nine months profit decline despite sustained revenue growth

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Beta Glass Plc reported a 22.7% decline in profit for the nine months to the end of September. Profit dropped to ₦2.2bn blamed on a host of cost increases. This is despite reporting a revenue growth of 12% in the period to ₦14.9bn from ₦13.3bn in the previous year. The glass bottle and metal crowns company said that the third quarter was particularly challenging for the firm with a 30% increase in cost of sales to ₦4.9bn from ₦3.8bn in the previous year. Selling and distribution expenses also grew 2,371% in Q3 to ₦26m while administrative expenses capped it off, rising 35% to ₦365m. According to the company’s financials, the cost increases was driven by a net foreign exchange loss which had an adverse impact on net finance cost, driving it up by 94% in the nine months to ₦74m and 41% in th

Seven-Up losses widen in half-year as finance cost bites

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Seven-Up Bottling Company Plc (“SBC”) on Tuesday reported its half-year results for April through September, with the soft drinks maker posting a record loss of ₦6.2bn ($17 million), a 302% increase from last year’s loss of ₦1.6bn ($4.4 million). The company blames its misfortune on skyrocketing net finance cost which ballooned to ₦3.6bn ($9.9 million) in the six months to the end of September, a 91% increase from last year’s ₦1.9bn ($5.2 million). Despite the loss, the company posted an impressive 13.5% increase in sales to ₦53.3bn ($146.8 million) for the period. The soft drinks giant has seen its earnings become losses over the last several quarters as it faced a spike in the cost of obtaining foreign exchange which has made dollar denominated loans very expensive, thus increasing finan

Cadbury Nigeria’s losses narrow as company struggles to return to profitability

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Cadbury Nigeria Plc on Thursday reported a net loss of ₦64 million for the nine months to the end of September. The loss was an improvement from 2016 when the company posted a net loss of ₦842 million. The firm said that its fortune improved in the third quarter as it posted a net profit of ₦702 million, helping narrow the cumulative loss. The Bournvita maker said that it saw a 14% increase in sales in the nine months to the end of September. Sales climbed to ₦24.3 billion (USD$66.9m) from ₦21.3 billion (USD$58.7m) in the previous year. However, administrative expenses weighed on the firm’s operating profit, rising 31% to ₦1.5bn (USD$4.1m) in the nine months to the end of September, with a third quarter increase of 251% to ₦537m. Skyrocketing net finance cost added to the company’s woes, s