Nigerian Breweries profits plunge 41.2% to US$27.54m in 2018 FY

NIGERIA – Nigerian Breweries Plc has announced a profit after tax of US$27.54 million during its 2018 financial year, a decline from US$37.46 million posted in its 2017 financial year. This represented a 41.2% decline in profits for the beverage manufacture as its revenues for the period under review also dipped to US$894.77 million from…

African Distillers Limited half year profits grow by 159% to US$7m

Zimbabwe – Zimbabwean wine and spirits manufacturer, African Distillers Limited, recorded profit after tax amounting to US$7 million during its six months to 31st December 2018 against US$2.7 million recorded in the prior year, representing a 159% increase. The alcoholic drink manufacturer said that the remarkable performance was fuelled by increased revenues and cost containment…

Nestle India reports 9.6% growth in profits to US$47.96m in Q4

INDIA – Nestle India reported a 9.6% growth in net profits to US$47.896 million for its fourth quarter period ended 31st December 2018 up from US$43.76 million posted in the corresponding period in its previous financial year. The company total revenues in the period under review increased from US$417.16 million against US$372.26 posted in the…

Flour Mills of Nigeria profit after tax dip 40.3% to US$21.7m in nine months

NIGERIA - Flour Mills of Nigeria (FMN) Plc has reported a profit after tax of US$21.7 million for the period nine months ending 31st December 2018 down from US$36.4 million recorded in the same period of the previous year. This represented a 40.3% decline in profit after tax as total revenues drop from US$1.17 billion…

East African Breweries half year profits grow 33% to US$96.2m

KENYA – East African Breweries Limited has posted pre-tax profits of US$96.2 million in its half year results for the period ending 31 December 2018 representing a 33% increase in profits compared to the same period last year. In its financial results, the company’s net sales grew 13% to US$ 412 million (Kshs 41.6 billion)…