Danone reports 3.1% sales growth of US$7112m in nine-month sales report

FRANCE – Danone, a French multinational food-products corporation, has reported a 3.1% consolidated sales growth in first-nine months, with sales of US$7112 million. According to the company, for the three months ending September 30, 2018, consolidated sales stood at US$7.13 billion, up 1.4% on a like-for-like basis, with a 3.3% rise in value more than…

Nestle reports 2% organic growth to US$66.7b in nine-month sales report

USA - Nestle, a Swiss transnational food and drink company, has reported a 2% increase in sales to US$66.69 billion in its nine-month sales report, with an organic growth of 2.8%. According to the company, the total reported sales increased by 2.0% to US$66.69 billion (from US$65.39 billion in 2017), and the net acquisitions had…

Nestle launches campaign to reinforce NESCAFE brand in Thailand

ASIA – NESCAFÉ, a brand of coffee made by Nestlé, has launched “Nurture Stronger Bond” campaign, the biggest campaign of the year with US$24.55 million budget, to celebrate 45 years of its journey in Thailand. According to the company, the campaign will also reinstate the brand proposition as a connection builder, as well as reinforce…

Maharashtra government to start online sale and home delivery of liquor

INDIA - The state government of Maharashtra is planning to legalize online sale and delivery of liquor at home in the state, the first in the country that will see sale of alcohol on ecommerce platforms. Such a bold move represents the government’s effort to control drunk driving, Times of India reports. "The main objective…

Hindustan Unilever posts 19.5% rise in profit to US$207m in second quarter

INDIA - Mumbai based consumer goods company, Hindustan Unilever has reported a 19.51% increase in net profit to US$207.33 million on account of double-digit growth across categories in the second quarter. According to the company’s regulatory filings, sales during the quarter under review stood at US$1.24 billion against US$1.11 billion in the year-ago period, up…

Agricultural Trust disburses US$87m for boosting agric development operations

ZIMBABWE - The Zimbabwe Agricultural Development Trust (ZADT) has provided US$87.5 million towards funding small-holder farmers and agribusinesses as it seeks to boost their operations. The Herald reports the disbursement goes to almost 530,000 beneficiaries, 26% of which are women, something in line with the government’s drive to economically empower women. According to ZADT chief…

Agricultural regulatory body AMA raises US$75m for grain procurement

ZIMBABWE - The Agricultural Marketing Authority (AMA) of Zimbabwe has raised US$75 million for grain procurement, about a month after it issued agro-bills to purchase maize from farmers. A statement from its financial advisor, CBZ Bank said that the authority sought to secure the funds for buying maize through the grain trade and marketing company,…

Pick n Pay’s half year profits grow 19.1% on gains to price cuts

SOUTH AFRICA - The retailer supermarket Pick n Pay has said that half-year profits before tax grew by 19.1% to US$47.17 million boosted by massive price cuts that attracted more shoppers into its stores, reports IOL Business report. Headline earnings per share grew by 80.5%, excluding the impact of voluntary severance costs from last year’s…

Hearthside Food Solutions signs agreement to acquire Greencore USA

USA - Hearthside Food Solutions, a leading contract manufacturer, has announced the signing of a definitive agreement to acquire Greencore USA, a leader in frozen contract packaging and a top producer of refrigerated, fresh-made sandwiches, entrees, and salad kits. According to the company, the transaction marks a significant step in the further growth and development…

Famous Brands earnings to be hit by US$61m impairment from UK Gourmet Burger

SOUTH AFRICA - South African restaurant franchisor Famous Brands has announced that it expects to register US$61.06 million (R874m) impairment from its UK restaurant business, GBK which has failed to meet performance expectations, according to IOL Business Report. Gourmet Burger Kitchen it acquired in 2016 for US$146.6m has been recording losses as trading conditions continue…