Starbucks reports 2% sales increase in Q4 2017 financial results

USA - Starbucks Corporation has reported financial results for its fourth quarter and 52-week fiscal year ended October 1, 2017, recording a global comparable store sales increase of 2%, which was driven by a 2% increase in average ticket and a 1% increase in transactions. According to the company, the sales increased up 3% excluding…

Beam Suntory reports 3.9% rise in sales led by bourbon brands

USA – US spirits major Beam Suntory has posted net sales of US$6.47 billion in its third-quarter results, up 3.9% from the corresponding period last year. The company has said that strong performance by its bourbon brands had led to ‘even faster growth’ for its Jim Beam Black, while also seeing ‘excellent initial results’ for its recently launched…

Dangote Flour records robust third quarter growth

NIGERIA - Dangote Flour Mills Plc (DFM) has demonstrated a high level of corporate governance that drives confidence and supports numbers, as contained in its recent financials for the nine-month ended September 30, 2017 released to the investing public. The release was, among other reasons, to allow investors plan their investment and forecast the company's…

Tate & Lyle reports strong half performance as new products shine

USA - Tate & Lyle, the British multinational ingredients company has reported a strong first half boosted by growth in its bulk ingredients and specialty food ingredients businesses, which pushed earnings higher. In the six months to September 30, sales from continuing operations went up 6% to US$1.8 billion and adjusted profit at constant currencies…

Nigerian Breweries records profit, as revenues rise 14%

NIGERIA - Nigerian Breweries Plc has announced an interim dividend of N7.997 billion (US$22m) for the nine months ended September 30, 2017. The dividend, which translates to N1.00 per share, was recommended following improved performance recorded by the leading brewing firm for the nine months. Nigerian Breweries posted revenue of N254.7 billion (US$708m) in 2017,…

Revenue growth muted in SA for brewing and beverage group Distell

SOUTH AFRICA - Multinational brewing and beverage group Distell on Friday said during the first three months of the new financial year ending June 2018, it recorded “muted revenue growth”, compared to the corresponding period in the previous year. The company said their South African operations recorded overall revenue growth in an environment of “near…

O-I extends joint venture with Constellation Brands for US$140m

USA - Glass packager Owens-Illinois has extended its joint venture with Constellation Brands in Mexico by almost 5%, at a value estimated to cost approximately US$140 million. This deal came after the company’s net sales for the Q3 2017 increased to US$1.8 billion thanks to favourable currency rates and gains in both Europe and Latin…

Cost savings, efficiencies boost Nestle Nigeria’s nine months profit

NIGERIA - Nestle Nigeria Plc, one of the country’s largest Fast Moving Consumer Goods Companies (FMCG) said on Monday that its revenue for the nine months to the end of September grew 43% N185bn ($510 million), from N129bn ($355 million) in the same period last year. The company behind such brands as Milo Cocoa drink,…