Yum! Brands, McDonald’s post double digit growth driven by away from home consumption rebound

US – American multinational fast food companies McDonald’s and Yum Brands have seen sales surge in the first half of the year as more restaurants around the world reopen dining rooms and consumers become open to the idea of eating out.   McDonald’s net income for the first half of fiscal 2021 was US$3.8 billion an impressive jump from the same time of the previous year when the company earned US$1.6 billion.  The company’s digital efforts bore fruit, delivering sales of nearly US$8 billion across McDonald’s Corp.’s top six markets during the first six months of 2021.  According…

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Bunge raises full year outlook as Ardent Mills’ earnings rise sharply in Q2

US – Missouri-based oilseed processor Bunge has raised its fiscal-year outlook for a second time this year following an impressive first half that included a strong performance in Refined and Specialty Oils.  The company reported six-month net sales of US$28.35 billion, a 52% jump from $18.64 billion achieved in the same time of the previous year.  Over the first six months of the 2021 fiscal year, Bunge reported a net income of US$1.19 billion, or US$7.85 per share on the common stock, which more than tripled the net income of US$332 million achieved…

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Danone completes sales of Vega brand, to launch new milk alternative platform this year

FRANCE — French multinational dairy company Danone SA has completed the sale of North American plant-based foods brand Vega to WM Partners, an Aventura, Fla.-based private equity investment fund focused on the health and wellness industry.  Vega offers a range of health and wellness powders made with such ingredients as sprouted whole grain brown rice and pea protein, chia and hemp seeds, organic peanut butter, and such vegetables as spinach, broccoli, and kale.    Danone had acquired the Vega brand in 2017 through its US$12.5 billion purchase of WhiteWave Foods but was forced to sell it as…

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Flour Mills of Nigeria showcases amazing top line performance in first quarter as it remains profitable

NIGERIA – Flour Mills of Nigeria (FMN) Plc, one of Nigeria’s leading food and agro-allied companies, has started the year with a bang announcing a 51% growth in first quarter revenue. According to the manufacturing giant, its revenue rose from N154.6 billion (US$375.7m) attained in Q1 of 2020/21 to N233.7 billion (US$567.9m). The company attributed the growth to bullish performance across all business segments underpinned by sustained demand in agro-allied, particularly in its edible oils and fertilizer businesses, and continued improvements in the food segment. In the Agro-allied division, the…

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High volumes sales sweeten Dangote Sugar Refinery’s half year revenue rising by 27.8%

NIGERIA – One of Nigeria’s leading sugar processors, Dangote Sugar Refinery, has recorded a double-digit growth in its half-year revenue for the period ended June 2021 to N131.95 billion (US$320m) in contrast to N103.23 billion (US$250m) recorded at the same period in the preceding year. The 27.8% jump in top-line performance is attributed to increase in group sales volume to 388,589 tonnes while production volume also increased by 7.6 per cent to 403,846 tonnes driven by operations optimization drive. The Nigeria Stock Exchange Listed company generates its revenue through the…

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Retailer OK Zimbabwe registers 49% growth in revenue driven by rise in volume sales

ZIMBABWE – Zimbabwe’s largest retail group, OK Zimbabwe has reported a 49% surge in revenue in the first quarter of its current financial year to June 2021, despite COVID-19-induced disruptions. Its sales volume grew by 48% over the same corresponding period in 2020, attributed to a recovery from more stringent prior year Covid-19 restrictive regulations and the success of the OK Grand Challenge promotion. According to the stock exchange-listed supermarket chain, it resumed its flagship OK Grand Challenge Promotion which had been temporarily suspended in 2020 due to Covid-19 lockdown…

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Next Meats builds new facility in Japan to expand alternative protein production capacity

JAPAN – Japanese meat alternative company Next Meats has begun construction of a new eco-friendly, alternative protein production facility in Nigata, Japan in an effort to expands its production capacity amid rising demand.   According to a Food Bev report, The Next Factory will be a ‘one-stop hub’ dedicated to the production of alternative protein products and will feature both an R&D lab and a production line.   It will incorporate DX systems as well as solar panels and other sustainable technologies and will prove critical in Next Meat’s mission to accelerate the growth of the alternative meat industry…

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Keurig Dr Pepper, Hershey report strong Q2 results as markets recover from pandemic downturn

US – Leading producer and distributor of hot and cold beverages Keurig Dr Pepper (KDP) and multinational chocolate company Hershey have reported strong second quarter results boosted by recovering demand in major markets globally.  KDP, saw its Q2 net sales grow 9.6% to US$3.14 billion driven by what its executives describe as growth across its business segments.  Both of the beverage giant’s largest units saw overall net sales growth in Q2 with packaged beverages growing its net sales by 7.6%, while coffee systems recorded a 5.6% increase.  The coffee systems segment saw nearly flat pod volume…

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Nampak’s nine months revenue soar by 24% promising profitable full year outcome

SOUTH AFRICA – Africa’s largest diversified packaging manufacturer, Nampak, continues to register bullish performance reporting nearly a quarter rise in revenue in the nine-month period ended 30 June 2021. In a trading update, the packaging supplier indicated that trading conditions improved significantly for the 3Q21 versus the comparative period in 3Q20, when most of its businesses were impacted by a combination of hard lockdowns and alcohol bans in many of the geographies where the group operates.  “Improved trading conditions, successful restructuring and cost savings initiatives have resulted in a 24%…

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EABL cements its ownership in Serengeti Breweries with acquisition of additional 30% stake

TANZANIA – East African Breweries Limited, majority owned by British multinational alcoholic beverage company Diageo, has expanded its ownership in its Tanzanian subsidiary, Serengeti Breweries to 85% following the acquisition of additional stake. The deal comes more than a year after the brewer had revealed its intentions of acquiring additional 30% stake in the Tanzanian unit in March 2020, after identifying the booming beer and spirits market in East Africa’s largest country. “We got one minority shares. We decided to buy them out and they also wanted to sell. The…

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