Flour Mills of Nigeria full year revenues decline 3.37% to US$1.45bn

NIGERIA – Flour Mills of Nigeria Plc, one Nigeria’s leading integrated food and agro-allied company, reported a 3.37% decline in revenue to US$1.45 billion (N524.41bn) for the year ended March 31, 2019 from  US$1.51 billion in […]

Zimbabwe’s CFI Holdings reports 243% jump in profits to US$7.29m

ZIMBABWE – CFI Holdings Limited, a diversified agribusiness company in Zimbabwe, recorded 243% increase in profit to US$7.29 million during six months ended March 31, 2019. The company which operates Agrifoods and Victoria Foods divisions […]

International Breweries records loss of US$10.49m despite 230% growth in revenue

NIGERIA – International Breweries Plc, the Nigerian unit of Belgian brewer Anheuser-Busch InBev recorded a net loss of US$10.49 million (N3.8bn) for the year ended December 2018 despite a strong revenue growth of 230% to […]

Honeywell Flour Mills skips dividend payout as full-year profits plunge 98%

NIGERIA – Honeywell Flour Mills Plc, a flour-milling company in Nigeria, has resolved to skip dividend payout for the year ended 31st March 2019 following a 98% decline in net profits from US$12.2 million (N4.4bn) […]

Zambeef Products half year revenue decline 4% amid challenging environment

ZAMBIA –Zambeef Products PLC, a food products and agribusiness company, posted a 4% decline in revenues to US$118.8 million for the six months to March 31, 2019 amid a challenging operating environment. Zambeef plunged into […]

Seed Co reports 16% growth in revenues as profits increase four fold to US$9.07m

ZIMBABWE – Seed Co Limited, one of Africa’s leading seed producers, reported a 16% increase in revenues to US$73.4 million offsetting a 323% jump in after-tax-profit to US$9.07 million in the year ended March 31, […]

Famous Brands reports decline in profits amid struggling UK Business

SOUTH AFRICA – Famous Brands, South African restaurant franchisor, posted 5% decline in gross profit to US$246.02 million (R3.6bn) for the year ended February 2019 amid its struggling Gourmet Burger Kitchen (GBK) business. GBK, a […]

Nestle Nigeria reports 5.2% growth in revenues in the first quarter

NIGERIA – Nestle Nigeria Plc has reported US$197.12 million (N71.0bn) in revenue for the first quarter of 2019, representing 5.2% growth compared to corresponding period in the previous year. The company’s gross profit for the […]

Unilever Ghana reports 10% growth in revenue supported by increase in sales

GHANA – Unilever Ghana Limited posted revenues of US$120.35 million (GH¢632m) in 2018, representing a 10 per cent increase from US$109.49 million (GH¢575m) that the consumer good company generated in 2017. The company said that […]

Quantum Foods half year profits plunge 51% despite growth in revenues

SOUTH AFRICA – Quantum Foods, South African animal feeds and poultry producer, has reported 51% decline in operating profit to R121m during the six months to end March 2019 attributed to economic pressure on both […]