Ingredion posts slight growth in Q3 sales, lowers earnings guidance amid trade uncertainties

USA – Ingredion reported a slight growth in sales to US$1.457 billion from US$1.450 billion during the third quarter of the fiscal year 2019 on improved price/mix and volume growth which were partially offset by […]

Indian online grocer Grofers raises US$20m in funding from Times Group

INDIA – SoftBank-backed Grofers, an Indian online grocer has raised US$20 million by issuing equity share and a warrant to Bennett Coleman Private Limited (BCCL), also known as Times Group. Times Group has picked up […]

Mondelez International opens new US$30m candy production line in Canada

CANADA – The multinational confectionery firm, Mondelez International has opened a new CAD$40 million (US$30 million) candy production line at its manufacturing facility in Hamilton, Canada. The investment saw the firm add 15,000 square feet […]

Famous Brands earnings fall by 15% despite improvements in its UK Business

SOUTH AFRICA – Famous Brands, South African restaurant franchisor has reported a 15% fall in headline earnings, while revenue remained flat at around R3.6bn (US$246m) in the six months to end-August. According to its half […]

Nigerian Breweries reports 17% decline in profits amid challenging operating environment

NIGERIA – Nigerian Breweries Plc has reported a decline in earnings on its unaudited condensed interim financial statements for the nine months period ended September 2019. The Nigeria Stock Exchange listed company’s profit reduced by […]

Thailand’s SCG Packaging considering US$1bn IPO on local stock exchange

THAILAND – SCG Packaging, a Thailand based packaging solutions provider to the food industry, is set to file for an initial public offering on a local bourse that could see the company raise about US$1 […]

Heineken to invest US$244 million in Brazil to double production capacity

BRAZIL – Heineken, the world’s second-largest brewer, will invest 985 million reais (US$244 million) in Brazil to double its production capacity, reports Reuters. The investment, which started in January and is expected to be concluded […]

Ghana’s Alomo Bitters maker counts losses as Nigerian border closure takes a toll

GHANA – Kasapreko Company Limited (KCL), a Ghanaian indigenous manufacturer and producer of alcoholic and non-alcoholic drinks has lost US$2m in sales following the closure of the Seme border by the Nigerian government. KCL are […]

Coca-Cola reports 5% rise in quarterly organic revenue as low sugar drinks gain momentum

USA – The Coca-Cola Company reported a 5% increase in organic revenue in its third-quarter, thanks to growth in sales of its low sugar drinks offerings as consumers continue to draw their focus on healthier […]

Danone’s third quarter sales climb to US$7.13bn boosted by Chinese market

FRANCE – Danone posted a 3% increase in like-for like sales to €6.42 billion (US$7.13bn) in its third quarter ending September 2019 boosted by the performance of its baby food products in China. While value […]