NIGERIA – Growth in Nigeria’s manufacturing sector shrank to 19.2 percent in the fourth quarter of 2014 as poor electricity supply, with high input cost, occasioned by depreciating naira continued to bite hard on businesses, among several other challenges.
NIGERIA – Nestle Nigeria said on Wednesday its 2014 full-year pretax profit fell 6.1 percent to N24.44 billion ($121.59m) compared with N26.04 billion a year earlier.
NIGERIA – Nigeria’s economy recorded a 5.9 per cent growth year-on-year in real Gross Domestic Product terms in the fourth quarter of 2014.
NIGERIA – Nigerian Breweries Plc has declared a total dividend of N37.2 billion for the 2014 financial year. The amount represents a pay out of N4.75 per ordinary share of 50 kobo each.
NIGERIA – The slump in the naira and a rise in the price of wheat have crimped the profit of Flour Mills Nigeria plc (FMN), analysis of the financial statement shows.
NIGERIA – Seven-Up Bottling Company plc has maintained its growth momentum for the third consecutive period as third quarter (Q3) 2014 profit surged by 16.13 percent, analysis of the financial statement shows.
NIGERIA – Nigeria’s nominal gross domestic product (GDP), which was estimated at N84.91 trillion in 2014 is expected to grow to N95.09 trillion in 2015 and N156.29 trillion in 2019, provided this month’s election outcome is favourable.
KENYA – Kenya is tipped to be among seven economies that will replace the BRICS as new frontiers for long-term investment.
KENYA – Increased sales of Tusker beer lifted East African Breweries Limited (EABL’s) turnover to double-digit growth in the six months to December, a statement released by the UK parent company Diageo showed Thursday.
ZIMBABWE – Listed brewer Delta Corporation (Delta) recorded a slump in volumes almost across its whole beverages portfolio in the third quarter to December 2014 due to depressed consumer spending.
AFRICA – The World Bank Group has predicted that growth in Nigeria and other countries in Africa will remain flat at 4.6 per cent in 2015.
SOUTH AFRICA – Recently listed Rhodes Food Group has benefited from strong trading for the year to end September 28 2014 in its regional and international businesses, with offshore sales helping to stem the effects of a weak rand.
SOUTH AFRICA – Quantum Foods, the feeds and poultry business Pioneer Food Group spun off as a separate listing last month, said on Monday it had returned to profitability in terms of headline earnings for the year through to September.
AFRICA – Africa’s gross domestic product may expand by 50 percent to $3.7 trillion by 2019, boosted by an emerging middle class and increased household demand, according to Deloitte, reports Bloomberg.
UGANDA – Eastern Africa’s new private equity player, Ascent, has launched a $20 million (about Shs54 billion) equity fund in Uganda to be invested in commercially viable companies in the next eight to 10 years.
NIGERIA – Okomu Oil Palm Company plc (OOPC) third quarter profit has risen by 28.57 percent on reduced costs, analysis of the financial statement shows.
ZIMBABWE – Listed brewer Delta Corporation (Delta)’s attributable income slumped seven percent to $44,1 million in the half year to September 2014, as depressed economic activity hit lager beer demand.
NIGERIA – Nigerian economy when measured by the Real Gross Domestic Product[GDP] grew by 6.23 per cent in the third quarter of 2014,higher by 1.06 percentage points from rates recorded in the Third quarter of 2013, and lower by 0.31 percentage points from the Second Quarter of 2014.
NIGERIA – The shareholders of Guinness Nigeria Plc have approved the payment of N4.8 billion, representing 320 kobo per ordinary share of 50 kobo as dividends.
NIGERIA – International Breweries plc, the manufacturers of beer and beverage drinks, reported second quarter September revenue of N10.07bn, up 16.34 percent from the like quarter of (Q2) 2013.
ZAMBIA – Zambia Sugar Plc has recorded a five per cent increase in revenue in the last six months ended September this year.
NIGERIA – Unilever Nigeria plc has had third quarter (Q3) profit dampened by spiralling finance costs and operating expenses as insecurity in the North part of the country continues to slow growth potentials.
NIGERIA – Nigerian Breweries (NB Plc) has announced an unimpressive financial numbers for third quarter (Q3) ended September 30, 2014 hampered by the unfavourable operating environment in the country.
AFRICA – Africa’s largest free trade area, made up of half the continent’s countries, has been formed.