Shoprite reports 18.2% decline in full year profits despite growth in sales

SOUTH AFRICA – Africa’s largest retail chain, Shoprite reported 18.2 percent decline in  full year net profit to US$ 273.12 million (R4.2bn) as the South African retailer struggled to lift sales in majority of the […]

Olam International reports 16% growth in H1 revenues despite market challenges

SINGAPORE – Olam International has reported a steady operating performance, recording 16% growth in revenues to US$ 11.47 billion in the first half of 2019, from US$9.86 billion recorded in a similar period last year. […]

Rwanda’s Bralirwa reports 3.9% growth in half year revenue to US$51.32m

RWANDA – Bralirwa Plc, the producer of Heineken Beer in Rwanda, reported 3.9% growth in revenues to US$51.32 million (Rwf42.1bn) for the half year period ending 30th June 2019, driven by volume growth. Despite a […]

Symrise reports strong revenue growth in H1 as organic sales climb 6.2%

GERMANY – Symrise, a flavors and fragrances specialist has reported strong revenue growth for the first half of the year as net income increased by US$12.34 million (€11 million). The German maker of scents and […]

Molson Coors chief executive to retire, names Gavin Hattersley as successor

CANADA – Molson Coors Brewing Company has announced that its chief executive officer, Mark Hunter, will retire on 27 September 2019 and has named Gavin Hattersley as the successor. Mark Hunter, who oversaw the acquisition […]

Nestle Nigeria reports 22% growth in half-year profit to US$72.39m

NIGERIA – Nestle Nigeria Plc reported 22% growth in net profit for the first half of the year ending on 30 June, 2019 to US$72.39 million (N26.2bn) supported by 21% decrease in finance cost. Revenues […]

Kenyan Coffee producer Eaagads returns to profitability as volumes grow 172%

KENYA – Eaagads Limited, a bulk coffee producing company in Kenya, has reported growth in revenue by 114.6 percent to Sh179.6 million (US$1.72m) driven by 172% increase in volumes for the year ended March 2019. […]

East African Breweries reports 57% jump in full-year profits to US$115m

KENYA – The East African Breweries Limited (EABL) posted a 57.34 per cent growth in net profit to US$115 million (Sh11.5 billion) for the year ending 30th June 2019. The company’s performance was boosted by a […]

Delta Corporation reports subdued performance as lager sales slip 57%

ZIMBABWE – Delta Corporation, Zimbabwe’s largest beverage manufacturer, reported a decline in its performance for the first quarter ended 30 June 2019 on the back of declining sales. The company saw its lager beer volumes […]

PZ Cussons to offload non-core brands and simplify its Nigerian business

NIGERIA – PZ Cussons Plc, a British-based consumer goods company, has said that it will sell-off non-core brands and simplify its Nigerian business as part of its newly launched strategy that seeks to improve the company’s […]