Carrefour Kenya records a 28% increase in annual sales to US$175.9m

KENYA – French retail chain Carrefour has recorded a 28 percent jump in sales to Ksh18.7 billion (US$175.9m) for the year ended December 2019 from its Kenyan outlets, an increase from Ksh14.6 billion (US$137.3m) recorded […]

Rwanda’s Bralirwa profits drop by 83.5% on account of rising expenses

RWANDA – Bralirwa Limited, the largest brewer and soft beverage company in Rwanda has reported a 83.5% drop in profits from Rwf7.2 billion (US$7.5m) earned in 2018 to Rwf1.2bn (US$1.25m) gained in 2019, according to […]

Turkish confectionery producer Ülker Bisküvi secures US$455m financing package

TURKEY – Turkey’s leading biscuit maker, Ülker Bisküvi Sanayi has raised a US$455 million financing package from international lenders to enable the company to continue smooth operations and further expansion in Turkey and abroad. The […]

Famous Brands cuts funding to its loss-making UK fast food business

SOUTH AFRICA – Famous Brands, South African restaurant franchisor will cut funding to its long-time struggling British fast food operation, Gourmet Burger Kitchen, due to deterioration in sales caused by the coronavirus pandemic. The SA […]

Zambian Breweries’ profit surge 27% on increased volume sales

ZAMBIA – In line with guidance from the Zambia government to combat the spread of coronavirus  (COVID-19), Zambian Breweries Plc has set a new milestone by becoming the first listed company on the Lusaka Securities […]

National Foods reports major decline in total volumes in the first half

ZIMBABWE – National Foods Holdings Limited, Zimbabwe’s listed agri-industrial concern has reported a 32% decline in total volumes for the half year to December 31, 2019 attributable to declines across all segments apart from the […]

Rhodes Food reports single digit growth in turnover amid challenging environment

SOUTH AFRICA – Rhodes Food Group (RFG), South Africa-based producer of fresh, frozen and long-life convenience meal solutions has reported a 7.6% increase in turnover for the five months to end February, boosted by the […]

Grand Parade Investments reports revenue growth despite divesting from food business

SOUTH AFRICA – Grand Parade Investments, which recently announced the sale of its SA Burger King licence has attributed the exit from its restaurant interests to reducing its debt and improving profits in its half […]