Unilever Nigeria quarterly profits plunge 45% to US$5.63m on persisting sales pressure

NIGERIA – Consumer goods firm, Unilever Nigeria Plc, has reported a 45% decline in profit before tax to US$5.63 million (N2.03bn) during its first quarter of 2019 down fromUS$10.26 million (N3.7bn) recorded in a similar […]

Zimbabwe’s Delta Corp reports increase in revenue amid challenging beverage sector

ZIMBABWE – Delta Corporation Limited has reported a 26% increase in revenue in the full year ended March 31st, 2019 despite a challenging operating environment mainly due to pressure exerted by forex quandary in the […]

Pick n Pay’s CFO Aboubakar Jakoet to retire, reports 20% growth in profits

SOUTH AFRICA – Pick n Pay, a South African retailer, has announced that the group’s chief finance officer, Aboubakar Jakoet is set to retire after serving in the position for about 8 years. Jakoet who […]

Louis Dreyfus to invest in Malaysian poultry and food firm Leong Hup

ASIA – Leading agribusiness merchant, Louis Dreyfus Company (LDC) has announced that it will invest in Malaysian poultry and livestock feed company, Leong Hup International (LHI) ahead of planned initial public offering. LDC said the […]

New levy impacts on Guinness Nigeria balance sheets as revenues decline 4%

NIGERIA – Guinness Nigeria Plc, a  subsidiary of United Kingdom-based Diageo Plc, has reported a 4% decline in net sales for the third quarter during its nine-months to the end of March 31st 2019. The […]

Muller to review dairies, enters logistics partnership with Culina Group

UK – Müller Milk & Ingredients (MMI) has announced that it is set to carry out a strategic review of its network of dairies and enter a logistics partnership with its sister company, Culina Group. […]

Saputo to acquire Lion Dairy’s specialty cheese business for US$197m

AUSTRALIA – Canadian dairy company, Saputo has entered into a definitive agreement to acquire the specialty cheese business of Australia’s Lion-Dairy & Drinks Pty Ltd for US$196.9 million (AUD 280 million). The sale to Saputo […]

AB InBev expands Bud Light range with new Lemon Tea lager

USA – AB InBev has launched new lemon flavoured Bud Light lager brewed with citrus real citrus peels and aged over black tea leaves to give the beer a distinct flavour profile. The limited-release lager […]