KENYA – The High Court has found consumer goods manufacturer Proctor and Allan guilty of evading Sh5 million tax by altering the ingredients of a supplement it imported in 2008 on behalf of the World Food Programme (WFP).
ZIMBABWE – Spirit maker African Distillers Limited (Afdis) is expected to increase its profits in the half year to December by 15 percent to $2,3 million from $2,08 million recorded in the full year to June 2014, market experts say.
KENYA – Fresh national statistics unveiled Tuesday show that Kenya’s gross domestic product (GDP) was last year underestimated by a quarter.
KENYA – All eyes will be on Kenya as it releases new Gross Domestic Product (GDP) figures that have been undergoing review for several months now.
KENYA – Listed Kenyan flour miller Unga Group Ltd has reported a 46 per cent increase in annual pretax profit after revising down its profits for the previous year following the adoption of new accounting standards.
KENYA – Mumias Sugar Company is in talks with seven banks to restructure Sh5 billion of debt to free up cash flow as the miller seeks to return to profit.
TANZANIA – The East African Community has accepted a draft agreement for fresh produce exports to the European Union market.
NIGERIA – Shareholders of Honeywell Flour Mills plc on Tuesday unanimously approved a total dividend pay-out of N1.34 billion representing 17 kobo per share as proposed by the board of the company at its 5th annual general meeting in Lagos.
KENYA – Kenya Tea Development Agency (KTDA) announced Wednesday that more than 600,000 small-scale holders affiliated to the marketing agency would be paid a total bonus of Sh19.8 billion, a 44.3 per cent drop on the Sh35.6 billion paid last year.
SOUTH AFRICA – Dairy products group Clover, which is trading under a cautionary announcement, sees opportunities for consolidation in the sector as the weak consumer environment offers limited growth opportunities.
ZIMBABWE – Listed diversified group Innscor Africa Limited (Innscor) recorded $1 billion revenue in the year to June 2014, up 54 percent from $656 million realised prior year.
ZIMBABWE – National Foods Holdings Limited (National Foods) profit surged by 20 percent in the year to June 2014 to $16,7 million from $13,9 million recorded prior year on the back of increased sales volumes.
KENYA – Sugar miller Mumias’ losses increased by nearly two-thirds to Sh2.7 billion in the year ended June 2014, the company announced Thursday. The miller did not declare a dividend.
SOUTH AFRICA – Branded consumer products group AVI is targeting a good year for grocery and personal care sales in African countries, after improving its distribution channels in several export markets.
NIGERIA – Economist at Renaissance Capital, Yvonne Mhango, has predicted that for the first time since 1H11, Nigerian consumer sentiment will be turning positive in 4Q14.
KENYA – Troubled sugar miller Mumias is set to announce a net loss of at least Sh2 billion for the year ended June, marking the second consecutive year of loss and worsening the dividend outlook.
NIGERIA – Guinness Nigeria Plc, has released its results for the year ended June 30, 2014.
UGANDA – Retail chain Uchumi Supermarkets has closed down one of its branches in Uganda, as the retailer announced a 7.6 per cent growth in its 2014 after-tax earnings helped by a tax credit.
ZIMBABWE – Dairibord Holdings (Dairibord)’s says its milk intake and sales slumped in the half year to June 2014.
NIGERIA – Following disappointing revenue posted by Cadbury Nigeria Plc and other fast moving consumer goods companies, analysts at Renaissance Capital has lowered their Cadbury Nigeria Plc FY14 headline earnings per share (HEPS) forecast from N3.21 to N1.75 (-45 per cent).
SOUTH AFRICA – Ready meal and jam maker Rhodes Food Group (RFG) on Monday announced its intention to list on the JSE’s main board, joining giants like Pioneer Foods and Tiger Brands, owner of the popular Koo canned food range.
NIGERIA – Flour Mills of Nigeria Plc has announced a profit before tax of N3.54 billion for the first quarter ended June 30, 2014 showing a decline of 24.5 per cent over N4.69 billion recorded in the corresponding period of 2013.
NIGERIA – Earnings of quoted firms operating in the Fast Moving Consumable Goods (FMCG) sector have slipped in the first quarter of the year as economic uncertainties pummel performance, thus slowing the industry’s momentum.
SOUTH AFRICA – Country Bird’s debt burden is weighing on the poultry producer’s expansion in other African countries, the group said in its annual results published on Monday.