Distell records full year revenue and profit rise despite challenging market conditions

BUSINESS
Distell Group, South Africa’s leading cider, spirits and wine producer reported revenue growth of 10.4% for the full-year ending in June 2018. Revenue grew to R24.2bn rand ($1.9bn) on a 4.6% volume lift. The company reported a strong growth of 10.1% in South Africa, its home market on 4.4% higher volumes amid low GDP growth and higher cost of living putting increased pressure on consumer disposable income. Distell derives 74% of its revenue in South Africa. The company said that its ready-to-drink (RTD) portfolio delivered strong revenue and volume growth, led by Savanna and Bermini cider brands amid increased competition. The spirits category continued to perform well, with brandy volumes still resilient and whisky recovering in the second half. The company notes that gin volume continued

Grand Oak CEO, Odesile, to step down

BUSINESS, New Products, News, NIGERIA, Nigerian state programs, wazobia companies
Aare Fatai Odesile, the CEO of Grand Oak Limited is to step down from his post effective end of September. His resignation comes after 27 years of meritorious service at the Nigerian Distilleries Limited (NDL) and Grand Oak Limited (GOL), two indigenous spirits firms owned by the Lexcel Group of Companies. Odesile started his career with the Lexcel Group as a Quality Control/Production Officer with NDL in 1992 and rose through the ranks to the position of Managing Director/CEO of Grand Oak Limited, the marketing arm of Nigerian Distilleries Limited in 2016. Remarking on his time at the company, Odesile said, “I have enjoyed every bit of my stay in both NDL and GOL having risen to become the first entry level graduate to become the managing director of the company. “I remain eternally grate

Osun 2018 Gov. Election: Pdp Protest Alleged Efcc Freezing Of The Adelekes’ Bank Accounts Including Davido’s

AFRICA, AGBOR NEWS, BLOGS, lagos, Local News, News, Newspaper, NIGERIA, politics
The Peoples Democratic Party has asked President Muhammadu Buhari to direct the Economic and Financial Crimes Commission to immediately unfreeze the private bank accounts of its governorship candidate, Senator Ademola Adeleke, in the Osun State elect ...Powered by WPeMatico

Grand Oak CEO, Odesile, to step down

BUSINESS
Aare Fatai Odesile, the CEO of Grand Oak Limited is to step down from his post effective end of September. His resignation comes after 27 years of meritorious service at the Nigerian Distilleries Limited (NDL) and Grand Oak Limited (GOL), two indigenous spirits firms owned by the Lexcel Group of Companies. Odesile started his career with the Lexcel Group as a Quality Control/Production Officer with NDL in 1992 and rose through the ranks to the position of Managing Director/CEO of Grand Oak Limited, the marketing arm of Nigerian Distilleries Limited in 2016. Remarking on his time at the company, Odesile said, “I have enjoyed every bit of my stay in both NDL and GOL having risen to become the first entry level graduate to become the managing director of the company. “I remain eternally grate