Tag: Financials

Molson Coors Q2 net sales revenues rise 17.4% as plans to discontinue 11 economy brands take shape

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US – Molson Coors, a leading brewing and drink company, has reported a 17.4% rise in net sale revenue for Q2 ending June 30th , as aggressive pursuit of the beyond the beer aisle strategy start paying off.   According to a report by FoodBev, Molson Coors sales surged to US$2.94 billion in what it described as the firm’s best second-quarter topline growth in over a decade.  The company which owns Miller Lite and Carling beer brands claimed that its increased sale volumes were primarily due to higher financial volumes, with North America…

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Diageo reports 16% organic growth in full year revenues driven by sales rebound in North America

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UK – British multinational alcoholic beverage company Diageo has recorded an 8.3% increase in full-year net sales, driven by the reopening of bars and restaurants in North America and demand for its premium spirits portfolio.  The owner of Johny Walker whiskey and Smirnoff vodka saw its full year net sales rise to £12.7 billion (US$17.66 billion), representing a 16% organic growth – driven by growth across all regions.  Reported operating profit increased 74.6% to £3.7 billion (US$5.14 billion) primarily due to a significant reduction in exceptional operating items compared to fiscal 2020,…

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South Africa’s beer major SAB reports double digit growths in both sales, profit despite alcohol bans

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SOUTH AFRICA – Despite the multiple COVID-19 related alcohol ban, South African Breweries (SAB) realised strong consumer demand for its brands when alcohol trade was allowed. According to its parent company, Anheuser-Busch InBev (AB InBev) revealed that the beer maker registered double-digit growth in both profit and sales in the six months to end-June, a period which covered parts of two alcohol sales bans. The third alcohol sales ban since the Covid-19 pandemic started, began in December and ended at the beginning of February, while the fourth ban started towards…

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AB InBev’s sales exceed pre-pandemic levels, but inflation eats into Q2 profits

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BELGIUM – World’s largest brewing company Anheuser-Busch InBev has reported top-line growth of 3.2% in quarter 2 2021, ahead of the same quarter in 2019.   The brewer of Budweiser, Stella Artois, and Corona, produced second-quarter sales of US$13.5bn, a 27.6 percent jump on an organic basis, which strips out the impact of currency movements, acquisitions, and divestitures, from the same period in the previous year.  In Q2, 2021, total volumes for the world’s largest brewer grew 20.8%, compared to the same quarter in 2020 while total volumes for the first half of the year grew 17%.  Revenues for…

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EABL narrowly miss complete performance turnaround with full year profit slipping by 1%

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KENYA – The East African Breweries Limited (EABL) has reported 15% growth in revenue to Ksh 86 billion (US$791m), driven by smart investment behind brands, channel focus and innovations, which led to overall volume sales growing by 13%. The stellar top line performance was delivered on the back of a tough operating environment characterised by increased volatility due to COVID-19 imposed curfews and restrictions, depressed consumer spending and global supply chain disruptions. However, the company adapted to the pandemic, finding new routes to market including distributing products to consumers’ homes…

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Danone bounces back to profitable growth in H1, announces board revamp, share buyback program

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FRANCE – French multinational dairy company Danone has bounced back to growth in the first half of 2021, reporting a 1.6% rise in consolidated sales on a like-for-like basis.  Danone’s consolidated sales for the first half of the year amounted to €11.84 billion (US$14.07 billion), while operating income fell 4.2% LFL to €1.55 billion (US$1.84 billion).  In a statement, the company attributed this to a return to growth across all categories in the second quarter with net sales for the quarter increasing 6.6% on a like-for-like (LFL) basis.  The owner of…

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Starbucks raises full year guidance following impressive Q3 performance

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USA –  Starbucks, the world’s largest coffeehouse chain, is now expecting fiscal earnings per share to be in a range of US$2.97 to US$3.02, up from a previous guidance of US$2.65 to US$2.75 per share following an impressive third quarter.  According to a statement from Starbucks, net income in the third quarter ended June 27 was US$1.15 billion up from a net loss of US$678.4 million recorded in the same period a year ago.   Quarterly revenues grew 78% to US$7.5 billion driven by a 73% increase in comparable-store sales, primarily from lapping the impact of…

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Nestlé raises full year guidance following strongest first half growth in a decade

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SWITZERLAND – World’s largest food manufacturing company Nestlé is upbeat about the remainder of the year following an impressive run in the first half of 2021.  In the recently released financial results, Nestlé reported an organic growth of 8.1% – the company’s highest in over a decade – as consumers doubled down on new buying habits acquired during the pandemic.  According to a statement from Nestle, the company’s growth was supported by continued momentum in retail sales, a return to growth in out-of-home channels, increased pricing, and market share gains.  Total reported sales increased by 1.5% to CHF 41.8 billion (US$46 billion)…

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Mondelēz, ADM post double digit profit growth in Q2 as markets recover from pandemic

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US – American multinational confectionery and snack food company Mondelēz International and its commodity trading counterpart ADM have reported double-digit growth in their quarter 2 (Q2) profits, as businesses starts to recover from pandemic effects.   In its recently released financial results, Mondelēz International reported a 12.4% increase in Q2 net revenue mainly driven by recovering sales in emerging markets.  The owner of Oreo and Cadbury chocolate recorded revenues of US$6.64 billion in the quarter, which it says was driven by organic net revenue growth of 6.2%, a favourable currency, and incremental sales from the company’s acquisitions of Hu, Grenade, and Gourmet Food.  Net revenues…

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Woolworths’ 118% rise in online food sales drive overall growth of segment

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SOUTH AFRICA – South African retail giant Woolworths, has reported that its group sales for the 52 weeks ended 27 June 2021, increased by 9.7% compared to a year earlier, and by 5.9% in constant currency terms. According to the upmarket retailer, trading conditions in the second half of the financial year are not directly comparable to the prior year, given the extensive impact of the pandemic. South Africa’s recovery during this phase of the Covid-19 pandemic has been set back by the onset of the third wave of infections…

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