ZIMBABWE – SABMiller’s Zimbabwean unit Delta Corp. said on Thursday its quarterly lager sales were down 8 percent compared with the same period a year ago, while sorghum beer volumes declined for the first time in five years.
NIGERIA – Shareholders of Flour Mills of Nigeria Plc have endorsed plan by the company to raise N40 billion through a rights issue to existing shareholders.
NIGERIA – Amidst negative reactions to declined profits being announced by companies for the half year ended June 30, 2015, Nigerian Breweries Plc has reported a revenue of N151.7 billion for the 2015 H1.
NIGERIA – Beverage makers, Cadbury Nigeria Plc on Thursday reported a loss of N250.716 million for the half year ended June 30, 2015, compared with a profit of N1.792 billion in the corresponding period of 2014.
NIGERIA – Seven up Bottling Plc’s impressive results has validated the company’s aggressive market penetration across the various product lines as profit increased 10.64 percent despite hard hitting economic environment stunting the growth of consumer good firms in Nigeria.
ZIMBABWE – The cash-strapped Cold Storage Company Limited (CSC) has registered a loss of $1,4 million during the quarter to March 2015 against a budgeted loss of $1,7 million.
AFRICA – Four of the world’s top 10 fastest growing economies in 2015/16 are forecast to be in Africa as global economic growth momentum remains below pre-crisis period.
NIGERIA – Unilever Nigeria plc’s slow start to the year is a manifestation of the weak macroeconomic environment Fast Moving Consumable Goods (FMCG) companies operate in.
ZIMBABWE – Zimbabwe largest dairy processor Dairibord Holdings has reported a six percent rise in revenue for the first four months of 2015 on the back of improved sales and forays into regional markets.
NIGERIA – According to data released by the United States Department of Agriculture, by 2030 Nigeria’s gross domestic product (GDP) will be over 1 trillion US dollars.
KENYA – Top managers at Haco Tiger Brands, a company co-owned by billionaire businessman Chris Kirubi and a South African firm, have been accused of profit manipulation in a scandal that has seen the managing director fired.
GHANA – Unilever Ghana has defied the harsh economic environment and implemented smart internal strategies that have buoyed its revenue stream by 26.9 per cent from GH¢323.4 million in 2013 to GH¢410.5 million.
SOUTH AFRICA – Tiger Brands’ Kenyan and Nigerian operations continued to drag it down, though South African operations proved resilient, interim results to March showed on Wednesday.
NIGERIA – Shareholders of Nestle Plc have approved the firms’ N17.50kobo dividend for the 2014 financial year, even as they stressed the need for the company to reduce the number of shareholders in the unclaimed dividend list.
GHANA – Samba Foods Limited, an indigenous food processing and preservation business, became the first local company to list and trade its shares on the Ghana Alternative Market (GAX).
SOUTH AFRICA – Tiger Brands’ effort to turn around its struggling Dangote business has been dealt a blow by the fall in the oil price and subsequent devaluation of the Nigerian naira.
RWANDA – Bralirwa is set to propose Rwf7.5 dividend payout per share next month. The proposed dividend which is the same as last year’s, follows a drop in the firm’s profits last year.
ZIMBABWE – Beverages manufacturer Delta Corporation (Delta) has warned of lower profits for the full year to March 2015, citing “changes in the sales mix and the deliberate strategies to preserve volumes”.
WORLD – Food demand in sub-Saharan Africa, including Nigeria, is projected to grow over the next 15 years by about 60 per cent, and 30 per cent in South Asia, a report just released by the World Bank Group has said.
NAMIBIA – The Namibian Stock Exchange has approved next Wednesday’s secondary listing of Clover, the dairy company said on Wednesday.
SOUTH AFRICA – SABMiller reported a marginal rise in full-year beverage sales volumes, and said its results were hurt by the strength of the dollar against various currencies.
AFRICA – The World Bank on Monday projected a drop in the economic growth rate of sub-Saharan Africa from 4.5 per cent in 2014 to 4.0 per cent in 2015.
NIGERIA – Cadbury Nigeria plc, a company in the fast moving consumable goods (FMCG) sector, recorded a 75 percent decline in profit last year after headwinds continue to stunt growth, analysis of the financials shows.
KENYA – Mumias Sugar reported a bigger first-half loss from a year ago, citing lower prices as well as a prolonged shutdown, but forecast an improved second half.
