United Spirits net profit rises 68% to US$35m in the second quarter

INDIA – India’s leading liquor company United Spirits Limited (USL) has reported a 68.97% increase in net profit to US$35.44 million attributed to improved sales in the second quarter ended September 2018. In the corresponding period July to September last year, the company which claims to be the world’s second-largest spirits company by volume had…

Beta Glass earnings rise 58% on strong revenue growth in 9 months

NIGERIA – Beta Glass, the Nigerian maker of glass bottles and containers for the beverage industry has reported that net income rose 58% to US$9.64 million for the nine-months period ended September. The company, which is a member of the Frigoglass Group had posted US$6.06 million in net income in the same period last year.…

Cadbury Nigeria returns to profit with 10.6% rise in revenue

NIGERIA – Cadbury Nigeria, a snack and confectionery arm of Mondelez International has ended the nine months to September 30 with a profit of US$474,100.80 from a loss of US$176,409.60 it reported last year in the comparable period. According to Business Day Online, revenue for the period increased 10.6% to US$74.3 million, an increase from…

Bunge posts strong earnings in grains, soybean crush in the third quarter

USA – The American agribusiness company, Bunge Limited has reported US$365 million in net income for the quarter ended September 30 reflecting strong earnings in grains and soybean crush. Net income for the first nine months of the year was US$332m, up from US$220m while in 2017, the company posted net income of US$92 million…

Kellogg’s profit up 19% as US segments hurt revenues in the quarter

USA – The Battle Creek, Michigan based Kellogg Company has posted a profit of US$396 million for the third quarter of 2018, a 19% increase comparable to the same period in 2017. Results released by the cereal and convenience food firm however indicated losses across several US segments and increasing extra costs which all cut…

International Breweries reports net loss of US$19m despite revenue growth

NIGERIA - International Breweries (IB Plc), the Nigerian operating unit of Anheuser-Busch InBev has said it bagged a net loss of US$19.53 million (N7.1 billion) for the first nine months of 2018. Revenue for the period grew 128% to US$228 million from US$100 million in the prior year. The company pinned the underperformance on increased…

Yum Brands income jumps 8.6% powered by more Taco Bell and KFC diners

USA – American fast food company Yum! Brands has posted strong quarterly performance with 8.6% rise in net income to US$454 million from $418 million in the comparable period last year. The company results indicated that strong sales at KFC and Taco Bell offset continued weakness at Pizza Hut which is losing to competitors in…

Coca Cola reports strong volume growth with 6% rise in organic revenue

USA - The Coca-Cola Company reported strong operating results in the third quarter, recording 6% growth in organic revenues with volume growth across all operating groups. Net revenues declined 9% to US$8.2 billion, impacted by a 13-point headwind from the refranchising of company-owned bottling operations. Concentrate sales grew 4% having benefited from the timing of shipments, and…

Ethiopia’s Nared Trading invests US$5m in a new water bottling plant

ETHIOPIA - Nared General Trading, an Ethiopian pharmaceuticals import and wholesale company has invested US$5.01 million (140 million Br) to set up a new water bottling company in Chacha Wereda, Amhara Regional State. According to AddisFortune, the plant was constructed at a cost of US$2.15 million on 20,000Sqm land and is expected to be fully…

Mondelez net revenue slides 3.7% despite strong performance in emerging markets

USA – Mondelez International’s reported a 3.7% decline in net revenue despite strong performance from emerging markets which saw 5.4% growth in organic net revenues in the third quarter. In emerging markets, growth was driven by strength in Russia, India, Mexico, China, Southeast Asia and Africa. It reported revenues of US$6.30 billion and earnings per…