Proshare Logo
   Market Date: 27-01-2015   
Agriculture ARTS FINANCE All One Min News Archives Bonds Cap Mkt Sentiments Capital Market CASHLESS NIGERIA Commodities Corporate Earnings Daily & Weekly Market Updates Elections Enterpreneurship ETFs Forex Frauds & Scandals General Global Market Insurance Investors NewsBeat Islamic Finance Mergers & Aquisitions Money Market Mortgage Mutual Funds Nigeria Economy Oil Sector Opinions and Analysis Pensions People Personal Finance Politics Power Products & Services Professionals Property Public Offers Private Placements Regulators REITs Stock PICKS Taxation Telcos Travel & Tours Unlisted OTC MARKET World of Business

NBC’s turnover hits N90.2b

Category: Capital Market

  Read (2035)
NBC’s turnover hits N90.2b

Jun 21, 2010 By Naomi Uzor

The Nigerian Bottling Company (NBC) has announced a 13 per cent growth in its turnover to N90.2 billion in its 2009 financial statements from N80.1 billion recorded in 2008.In his statement at the 2009 annual general meeting of the company, Amb Olusegun Apata, Chairman, NBC, said that despite a challenging business environment imposed by the global recession and the Benin plant fire incident of December 2008, the company recorded significant improvement in top and bottom lines in the period under review.

He noted that the company recorded a profit before taxation and extraordinary items of N4.33 billion from N2.44 billion recorded in 2008.“We experience high input costs in 2009 mainly from an increase in the price of sugar, a major input in our production process which went up by more than 16 per cent compared with 2008. Cost of diesel (AGO) which we use for power generation in all our 13 plants and depots, and prices for packaging materials especially for one way packs also went up” he stated.

He said in 2009, the company’s supply chain continued in its effort to further upgrade production facilities and improve product and package quality as the juice packaging was changed from brick to prisma, which in turn boosted the sales volume in this segment of the market and positively affected the market share, adding that the supply chain also played an important role in rebuilding the Benin plant and facilitated the installation of a new ultra glass line at the Ikeja plant.

Apata disclosed that the new juice line which is under construction at the Ikeja plant will further boost the company’s market share and profit at completion and that the company continued investing on staff during the year through various local and overseas training.“The company will redouble its focus this year on managing and improving quality, and on strengthening compliance structures, this will improve their position in the market and positively affect our business, our people, our suppliers and our customers.

We will continue to focus strongly on cost control and reduce waste and losses, we will also continue to invest in our plant operations by upgrading our production facilities and infrastructures” he said.He reassured the consumers that they shall continue to provide them with their preferred choice of beverage at the right quality and right place  no matter where they are in Nigeria.


Tags: , 

Comment With Your Facebook or Yahoo! ID

Latest news

News on Capital Market

About Us

Who We Are
Our Team & Partners
Corporate Governance
Advertise with Us
Subscribe / Unsubscribe
Site Map
News Feed - RSS
Contact Us
Volunteer Program
Message from CEO

News & Features
The Analyst / Market Data
Investor Relations Portal
The Regulator
Economy & Politics
Training Portal
Events Calendar
NewsStands - Online Reputation

Products and Services

Research & Market Intelligence
Analyst Services
Offers & Rights Support Service
Investor Relations Services
Alert & Subscription Services
Share Support Services
Proshare Consult
Event & Seminar Coverage
Market Directory
File a Complaint
News & Analysis

News from TheANALYST
Video News from WebTV
Money Market Updates
Opinions & Analysis
Nigerian Economy
Market Data
The Regulator
Discussion Forum

Subscriber Agreement
Privacy Policy
Data Policy
Copyright Policy
Comments in Site
Advertising Code
Conflict of Interest
Content Partnership
3rd Parties

Online Trading and Execution
Legal Support Services
Web/Technology Services
File a Complaint

CBN Governor 2014