South Africa’s Kaap Agri reports 28.7% growth in revenues as conditions rebound

SOUTH AFRICA - Kaap Agri, South Africa’s agricultural retailing and service company, has reported a 28.7% growth in revenues to R4.4bn in the six months to end March 2019 supported by drought recovery in some operating regions. The Johannesburg Stock Exchange (JSE) listed firm however, said that gross profit in relation to revenue growth did…

Egypt’s Arabian Food Co reports 151% growth in profits as sales surge

EGYPT – The Arabian Food Industries Co, an Egyptian food and beverage company popularly known as Domty, has announced 151% growth in consolidated profits toUS$8.93 million (LE154.6m) during 2018 financial year up from US$3.55 million (LE61.5m) posted in 2017. The Egyptian Stock Exchange listed firm posted increase in sales to US149 million (LE2.58bn) in the…

South Africa’s Pick n Pay annual turnover grows 9.6%, approves expansion plans in Zimbabwe

SOUTH AFRICA - Pick n Pay, second largest retailer in South Africa has reported 9.6% growth in its annual turnover for the financial year to the end of March 2019 despite declining consumer spending which has affected retailers in the country. According to a report by Business Report, the retailer said in a recent trading…

Carrefour Kenya annual sales grow 71% to US$137.71m amid expansion plans

KENYA – Carrefour, a French multinational retailer, reported remarkable performance in its Kenyan business after growing its annual sales 71%  to US$137.71m during its 2018 financial year. Majid Al Futtaim, the exclusive holder of Carrefour’s franchise in Kenya, highlighted that the performance was part of the group’s footprint expansion considering that its 2017 sales only…

Dangote Sugar Refinery posts US$96.24m Profit as leading sugar producer in Nigeria

NIGERIA- Dangote Sugar Refinery in Nigeria has reported a profit before tax of US$96.24 million during its full year results for the financial year ended 31st December 2018. The Nigeria Stock Exchange Listed firm grew it revenues to US$418.35 million as it continues to cement its position as the leading sugar producer both by volume…

Nigerian packaging group Beta Glass reports 23% growth in full year profits on strong growth in sales

NIGERIA - Beta Glass Plc, a Nigerian packaging group and subsidiary of Frigoglass Industries Nigeria Limited, reported a 23% growth in net profit during its 2018 financial year. The manufacturer and supplier of glass bottles and containers for the beverage industry posted net earnings of US$13.84 million during the financial year up from US$11.35 million…

Fuel costs, VAT hikes impact AB InBev’s South Africa business

SOUTH AFRICA – World’s leading brewer, Anheuser-Busch InBev (AB InBev), said that its South Africa’s business posted weaker performance in its 2018 financial year on account of rising fuel costs and the value-added-tax (VAT) hike in the country. According to a report by Business Report, the multinational brewer said the macroeconomic and consumer environment in…

Nigeria’s Champion Breweries reports decline in earnings in 2018 FY

NIGERIA - Champion Breweries Plc, a producer and marketer of alcoholic and non-alcoholic beverages in Nigeria, reported a decline in its earnings by 0.28% to US$13.27 million during its 2018 financial year down from US$13.31 millionposted in the preceding year. The brewer also plunged into a net loss of US$0.74 million during the period under…

Cadbury Nigeria sustains growth momentum, names Ogaga Ologe as Finance Director

NIGERIA - Cadbury Nigeria Plc, the Mondelez International’s snack and confectionery arm in Nigeria, reported growth in net earnings by 174% to US$2.27 million during its 2018 financial year. The confectionery and food drinks manufacturer has continued to post remarkable performance on the back of rising sales which grew 9% to US$99.22 million up from…

Zimbabwe’s Dairibord doubles profits in 2018 FY as revenues shore up

ZIMBABWE - Dairibord Holdings Limited, a leading dairy company in Zimbabwe, posted profit after tax increase by more than two-fold to US$6.48 million in its 2018 financial year up from US$1.94 million posted in the previous year. The dairy firm’s revenues in the full year ended December 31, 2018, grew by 28% to US$126.44 million.…