Mumias Sugar half year sales drop 96% as sugar line shuts down

KENYA - Mumias Sugar Company’s sales in the six months to December 2018 dropped by 96% to Sh25 million (250000) from US$6.8 million (Sh680m) recorded in a similar period the previous year. The miller attributed the decline to lack of products for sale during the period following shutdown of its production line between July and…

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)…