Champ Malta producer Champion Breweries profits fall 7% on rising costs

NIGERIA - Champion Breweries plc, Akwa Ibom based producer of Champion lager beer and Champ Malta has recorded 6.53% decline in profit to US$223,102.93 for the half year ended June 2018 from US$238,345.99 in 2017. According to Beverage Industry news, the decline was blamed on rising cost of selling and distribution expenses, which rose 95%…

International Breweries reports loss despite strong revenue boost in the first half

NIGERIA - International Breweries Plc, a subsidiary of the world’s largest brewer AB InBev has reported a loss of US$7.76m in the first half of 2018 from US$6.09mn in the first quarter. Revenue grew to US$146.88mn and the quarter was marked by various product launches aimed at expanding its portfolio. The brewer launched its premium…

Carlsberg increases ownership in Cambodian brewer to 75%

INDIA – Carlsberg, one of the leading brewery groups in the world, has increased its ownership in the Cambodian brewer Cambrew Limited (Cambrew) by 25% and as a result, the Carlsberg Group now owns 75% of Cambrew. According to the company, Cambrew is among the largest brewers in Cambodia. Its largest beer brand – the…

PepsiCo’s Varun Beverages profit rises 25% with revenue matching estimates

INDIA - Varun Beverages Ltd (VBL), PepsiCo’s largest franchise bottler of soft drinks has reported that its consolidated net profit in the second quarter increased by 24.92% to US$44.14 million while revenue matched estimates, reported Indiainfoline. Profit margin contracted by 150bps year-on-year due to sub-optimal volumes/margins in acquired sub-territories. Also, during the quarter company had…

Monster Beverages reports net sales rise 12% to surpass US$1b threshold

USA – Monster Beverages, an American beverage company that manufactures energy drinks, has reported a net sales increase of 12% to exceed US$1 billion threshold in its quarterly sales results. According to the company, the net sales for the 2018 second quarter increased 12% to US$1.02 billion from US$907.1 million in the same period last…

Heineken launches new brew infused with marijuana instead of alcohol

USA – Heineken, a pale lager beer producer, has introduced a new brew, Hi-Fi Hops, from California beer brand Lagunitas, made with marijuana instead of alcohol. The company said the new brew is part of a growing trend of established companies diving into the marijuana industry and could give a boost to the struggling beer…

Coca-Cola European Partners reports first half year revenues at US$6.19m

USA - Coca-Cola European Partners, has announced its interim results for the six months ended 29 June 2018 with a reported revenue totalled at US$6.19 million, maintaining full-year 2018 outlook. According to the company, the first-half diluted earnings per share were US$0.97 on a reported basis or US$1.15 on a comparable basis, including a negligible…

AB InBev to build new brewery in Mozambique, Nigerian brewery to open this month

MOZAMBIQUE- Anheuser-Busch InBev (AB InBev), the world’s largest brewing company has said it is investing in a new brewery in Maputo, Mozambique whose construction is set to start second-half of 2019. While the sum of the transaction was not disclosed, the Belgian based brewer said the new facility will have a capacity of 2-million hectoliters…

Diageo Ethiopia launches code system to spot counterfeit whisky

ETHIOPIA - Diageo Ethiopia, the owner of Meta Abo Brewery has launched a QR code system, an application that allows consumers to identify counterfeit whisky as well as authorized importers and distributors of the products, Addis Fortune has reported. Introduced by Diageo International, the parent company three years ago, the system enables consumers to scan…

AB InBev launches 100+ accelerator to fund and support local entrepreneurs

BELGIUM - Anheuser-Busch InBev, a multinational beverage and brewing holdings company, has launched the 100+ Accelerator with the aim of mobilizing the world’s brightest minds to solve some of the most pressing global sustainability issues. According to AB InBev, it invites academics, entrepreneurs, scientists and technologists to apply the 100+ accelerator, as it looks for…