The two warring groups of All Progressives Congress (APC) in Ifelodun Local Government, Osun State,Arobafin and Tobalase have sheathed their swords and embraced peace. Leaders of the two groups settled their differences and agre ...Powered by WPeMatico
The business mogul, philanthropist and very humble illustrious son of Ede in Osun state, Dr Deji Adeleke has debunked the rumour that he would contest in the next year 39;s governorship election in the State. A press press statement issued on Mon ...Powered by WPeMatico
The socio-economic and political realities in Nigeria today is telling on everyone. While some are bold enough to admit it or express their disappointments with the situation, others are still pretending that all is well or that things will soon ...Powered by WPeMatico
Unfortunately for the PDP, its feeble attempt at rebuilding in Anambra ahead of the November elections was torpedoed by hijack of the party machinery by a former Governor who is driven by desperation to unseat an incumbent Governor at all costs - a m ...Powered by WPeMatico
The national leadership of the All Progressives Congress, APC, was, last night, trying to fend-off possible schisms in the party over the declaration by the South-West caucus that the 2019 presidential ticket would be open to all zones should Preside ...Powered by WPeMatico
Delta Corporation, Zimbabwe’s largest brewer and a unit of AB InBev said on Thursday that it has reached an agreement to acquire a controlling interest in National Breweries of Zambia. In a released statement, Delta said that equity is being acquired from Heinrich’s Syndicate, also a subsidiary of AB InBev. “The equity is being acquired from Heinrich’s Syndicate, a subsidiary of AB InBev. The transaction is subject to various regulatory approvals. The impact of this transaction is currently being determined but is not material for Delta,” said Alex Makamure, Delta’s Company Secretary. National Breweries of Zambia is the leading sorghum (Opaque) brewer in Zambia whose products are sold under the Chibuku brand. Delta Beverages also brews the Chibuku brand and has a wealth of experience in th
A teacher with Mastercare International School Asaba, Delta State, Mr. Felix Udochukwu Ariguzo, has emerged the 2017 winner of Maltina Teacher of the Year Award held in Lagos on Thursday. For beating out other contestants, Ariguzo was awarded ₦1 Million as well as ₦500,000 he received as Delta State Champion. In addition, he will receive ₦1 million every year for five years, a training programme abroad and a block of six classrooms built in his school. Ariguzo who teaches Biology and Chemistry said that he gets his inspiration for teaching from his love for service and knowledge building. He expressed gratitude to Nigerian Breweries for the gesture and urged other corporate organisations to emulate the worthy example. “Today, I am very happy and proud that Nigerian Breweries has shown that
PZ Cussons Nigeria Plc, makers of a wide range of consumer products including electricals, personal and homecare products, dairy brands, among others reported a loss of N123m in the first quarter of its 2018 financial year ending on 31 August 2017. The company blamed its poor performance on higher cost of sales, driven by foreign exchange loss of N1.8bn. Cost of sales rose 17.6% to N12.9bn, while administrative expenses skyrocketed 42% to N1.87bn. The company also saw a higher interest cost of N348m, from N94m in the previous year and a 28,000% jump in net finance cost to N273m, driven by higher cost of sales, (in part driven by FX) and the FX impact on financing costs. Despite the challenges, the company posted an impressive 12.8% growth in sales to N18.9bn. While commenting on the Nigeri...
Moët Hennessy, the wines & spirits division of French luxury goods maker Louis Vuitton Moët Hennessy (LVMH), said on Tuesday that revenue for the first nine months to the end of September grew 7% to €3.5bn, from €3.2bn in the previous year. The company which makes high-end luxury goods such as perfumes & cosmetics, fashion & leather goods, watches & jewelry noted that despite a 7% growth in the wines & spirits business group, it trailed all other business categories that recorded double-digit growth. LVMH blamed the single-digit performance in the wines and spirits category on a third quarter supply constraint. Total LVMH group sales for the first nine months stood at €30.1bn, a 14% lift from the previous year. In the third quarter alone, the group recorded 14% growth in sales to €10.38bn
PZ Cussons Nigeria Plc, manufacturers of a wide range of consumer goods including Nutricima brands such as Yo, Coast, Nunu and Olympic yoghurt and milk brands reported a 15% rise in revenue for the full-year ending 31 May 2017. Sales reached N79.6bn from N69.5bn in 2016. Profit for the year rose 73.1% to N3.7bn, helped by price increases implemented through the year to mitigate the effects of inflation caused by Naira devaluation and poor liquidity. The Naira lost 50% of its value in the interbank market as well as further weakening in the secondary market which caused transactional impact through higher costs in the period under review. The company notes that all of its business lines performed relatively well under difficult trading environment with market shares either held or grown, al...