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Nigerian Breweries Earns ₦83.3b and Declares ₦8b Profit for Q1 2019

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The Board of Directors of Nigerian Breweries Plc has announced a Revenue of ₦83.3 billion for the first quarter of 2019.

According to the unaudited and provisional results filed at the Nigerian Stock Exchange, the Company also made a Profit after Tax of ₦8 billion during the period.

An analysis of the results shows that the ₦83.3 billion Net Revenue is a 0.4% growth over the ₦82.97 billion made in the corresponding period in 2018.

The Q1 2019 Profit after Tax is lower than the ₦10.2 billion recorded in the same period in 2018, signifying a 21.4% decline.

In the statement signed by the Company Secretary/Legal Director, Uaboi Agbebaku said that the increase in Net Revenue was offset by higher excise duty following the excise duty regime introduced in 2018.

Cost of Sales increased by 7.3% primarily driven by Raw Materials and Consumables while Marketing and Distribution expenses increased 7.9% over the same period in 2018.

Administrative Expenses reduced by 12%, partially driven by the right sizing exercise undertaken by the Company in Q3, 2018.

The impact of inflation and currency devaluation was minimized by the continued focus on cost efficiencies delivered through Cost Leadership initiatives.

According to Mr. Agbebaku, the 2019 operating environment so far, has shown similarities with the difficult environment witnessed in 2018.

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Notwithstanding, the Board remains confident that it has a clear strategy to deliver good return on investment.

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How Vitafoam is responding to the COVID-19 fight

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Despite the huge challenge the COVID-19 pandemic is posing to businesses across the world and Nigeria, some corporate organisations are stepping up with laudable actions to support the government’s effort in the fight against the virus.

Vitafoam Nigeria Plc, one of the organisations that have responded to the fight, on Wednesday donated 100 units of mattresses and pillows to isolation centers through the Lagos State Government as the number of confirmed cases increases in Nigeria.

“As a Responsible Corporate Organization, we would also be playing our own part in fighting the spread as well as eradicating COVID-19, by giving out 100 units of Mattress and Pillows to the isolation centres through the Lagos State Government,” Vitafoam announced in a Twitter statement.

Nigeria presently has a total of 51 confirmed cases of COVID-19 – 48 are active, two have recovered while one death has been recorded.

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Nestlé Marks Transporters Day, Restate Assurance of Products Availability

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In a bid to continually satisfy its customers’ needs Nestlé Nigeria Plc, has restated its commitment towards ensuring its products are available for consumers in markets across the country during the event.

The statement was made at event tagged the ‘Transporters Day 2020’ which it held recently in Lagos, the company gave this assurance where it hosted top logistics companies to educate them on best practices on services and product supplies as well as appreciate them for the significant roles they play in the company’s growth.

Mr. Nestor Finalo, Supply Chain Manager, Nestlé Nigeria speaking at the event, he said; “Nestlé main objective is to continuously drive product availability in the marketplace with speed; thus, there is need to create stronger partnerships with its transporters for them to be able to provide optimum services to customers and distributors, on-time and in full.

“Everything we do start with the customers and shoppers in mind; they are always at the centre. Ensuring availability and access to our healthy options cannot be achieved without a committed relationship between Nestle and the transporters, he said.

He added: “With this comes the responsibility to sustain all efforts at ensuring our high-quality products are available for the shoppers to buy and consume across all relevant outlets in the country.”

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In a bid to continually satisfy its customers’ needs Nestlé Nigeria Plc, has restated its commitment towards ensuring its products are available for consumers in markets across the country during the event.

The statement was made at event tagged the ‘Transporters Day 2020’ which it held recently in Lagos, the company gave this assurance where it hosted top logistics companies to educate them on best practices on services and product supplies as well as appreciate them for the significant roles they play in the company’s growth.

Mr. Nestor Finalo, Supply Chain Manager, Nestlé Nigeria speaking at the event, he said; “Nestlé main objective is to continuously drive product availability in the marketplace with speed; thus, there is need to create stronger partnerships with its transporters for them to be able to provide optimum services to customers and distributors, on-time and in full.

“Everything we do start with the customers and shoppers in mind; they are always at the centre. Ensuring availability and access to our healthy options cannot be achieved without a committed relationship between Nestle and the transporters, he said.

He added: “With this comes the responsibility to sustain all efforts at ensuring our high-quality products are available for the shoppers to buy and consume across all relevant outlets in the country.”

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Cripsy and Grill by Grubs Republic wins Street Foodz Naija Kings Competition

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“As a Brand we are delighted to have been part of this project, being the first of its kind in the country, the competition was well received by the public, and the participation and entries recorded for the competition was quite high. While there was an eventual winner, the overall goal of this project was to create awareness and celebrate these Street Food- preneurs as we like to call them, thereby elevating this sector of the food industry which is often overlooked.
These contestants not only gained valued skills and lessons, we also made sure to give each of their various outlets a befitting facelift. Rest assured, next year’s competition is going to be much more bigger and better,” she said.

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