Financials & Economy
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Nestlé raises organic sales outlook with strong second quarter results
SWITZERLAND – Nestle, Swiss multinational food and drink processor and the world’s largest food company by revenue, has posted organic sales growth of 8.7% for…
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Heineken half year profits decline as higher prices put off consumers
NETHERLANDS – Heineken, the second-largest beer company in the world, has reported a below-expectation financial performance in the first half of 2023 primarily driven by…
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Fonterra, Nestlé’s sale of DPA Brazil faces challenge
BRAZIL – Dairy Partners America’s joint owners, Fonterra and Nestle have engaged with Brazilian Administrative Council for Economic Defense (CADE) to advise Brazil’s competition regulator…
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Guinness Nigeria sustains 11% revenue growth in FY23 despite prevailing macro-economic headwinds
NIGERIA – Guinness Nigeria, a Nigerian-based subsidiary of Diageo Plc, has been hit by the cost of sales increase in the Full Year 2023 that…
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Food companies join South Africa’s leading corporations in pledge to resuscitate battered economy
SOUTH AFRICA – Leading food companies in South Africa have joined South Africa’s leading corporations in an unprecedented show of solidarity to country and commitment…