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%…

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…

Diageo invests in a new Guinness brewery in Maryland, USA

USA – Diageo, a British multinational alcoholic beverages company, has invested in a new Guinness brewery outside of Baltimore, Maryland which represents the first Guinness brewing operation on U.S. soil in more than 60 years. According to Guinness, the brewery will attract more than 300,000 visitors in its first year of operation. In addition to…

Guinness Nigeria appoints Baker Magunda as new Managing Director

NIGERIA - Guinness Nigeria, a subsidiary of Diageo Plc of the UK has appointed Baker Magunda as the company’s new Managing Director/ Chief Executive Officer effective 1 July 2018. Baker succeeds Peter Ndegwa who gave his notice of resignation on 30th June 2018 and the Board accepted his resignation on the same date. He joins…

Nigerian Breweries announces resignations and new appointments to its Board

NIGERIA - Nigerian Breweries Plc, a subsidiary of the Dutch brewing company Heineken N.V has announced three resignations and appointment of two new directors to its board. Resignations from the board include those of Mark Rutten, the company’s Finance Director; Hendrik A. Wymenga, Supply Chain Director effective date 27 July 2018; and Franco Maria Maggi…

Nigerian Breweries profits fall 22% on new duty and tax revisions in the quarter

NIGERIA - Heineken’s Nigerian Breweries has reported 22% decline in Profit After Tax (PAT) to US$49.78 million impacted by new exercise duty and higher tax rates on beer in the first quarter of this financial year. The federal government announced new excise duty rates on alcoholic drinks and tobacco, spread over a three-year period targeting…

Nigerian Breweries establishes new US$275.2m ‘Commercial Paper’ programme

NIGERIA - Nigerian Breweries Plc, a subsidiary of Heineken N.V. Group has set up a US$275.2 million Commercial Paper (CP) programme to complement other sources of working capital, while diversifying its funding sources to include non-bank investors, the Guardian has reported. The programme would be issued in tranches or series with specified amounts, dates, discounted…

EABL revenues rise 5% on higher spirits as testing begins at new Kisumu plant

KENYA – The East African Breweries Limited (EABL), a subsidiary of the British multinational Diageo Plc, has reported 4.57% increase in revenue to US$731.8 million attributed to strong sales in its spirits segment and bottled beer in Kenya and Tanzania. The brewer is now banking on increased sales of its spirits in the region and a…

United Spirits’ premium alcohol segment help push profits 29% higher

INDIA - United Spirits, a subsidiary of Diageo and India’s largest spirits manufacturer has reported 29% increase in profits to US$11.80 million helped by strong growth in premium alcohol segment in the first quarter, ET Retail reported. For the three months ended 30 June, net sales rose by 13% attributed to strong performance in the…

AB InBev announces organisational and leadership restructuring with growth focus

BELGIUM - AB InBev has announced that it is restructuring its executive and organisational structure to bring more focus to the leadership level as a way of driving growth in the region. The brewer said it was simplifying its organisational structure by shifting from 9 to 6 management zones with an emphasis on driving growth…