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LequteMan
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Nigeria - Orijin, made by Diageo Plc, the world’s biggest distiller, since it's introduction in 2013 has claimed more than 50 percent of the market for non-beer bottled drinks with a similar alcohol strength.
“Orijin has been hugely successful for us in Nigeria,” Chris Stagg, Diageo’s general manager for innovation, said by phone from London on May 1, declining to give sales figures as it isn’t company policy. “That’s caused us to look aggressively at how we bring this particular brand to other consumers in Africa.” The drink is now also being sold in Ghana and Kenya, he said.
A 40 percent slump in oil prices since June is expected to curb economic growth in Nigeria to 4.8 percent this year from 6.3 percent in 2014, the International Monetary Fund said on April 28. That’s had an impact on disposable incomes in Africa’s largest crude producer, with drinkers switching from Guinness to cheaper brands of beer and lager, Diageo’s Lagos-based unit Guinness Nigeria Plc said last year.
Guinness Nigeria’s net income declined to 5.2 billion naira ($26.4 million) in the nine months through March, compared with 5.9 billion naira in the same period in 2014, the company said April 24. The shares gained 3.2 percent to 160 naira as of 1.08 p.m. in Lagos, paring the year’s decline to 4.9 percent. That compares with a 0.9 percent fall on the Nigerian Stock Exchange All Share Index.
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Source: Bloomberg
#Nigeria #Orijin #Guinness #Diageo
“Orijin has been hugely successful for us in Nigeria,” Chris Stagg, Diageo’s general manager for innovation, said by phone from London on May 1, declining to give sales figures as it isn’t company policy. “That’s caused us to look aggressively at how we bring this particular brand to other consumers in Africa.” The drink is now also being sold in Ghana and Kenya, he said.
A 40 percent slump in oil prices since June is expected to curb economic growth in Nigeria to 4.8 percent this year from 6.3 percent in 2014, the International Monetary Fund said on April 28. That’s had an impact on disposable incomes in Africa’s largest crude producer, with drinkers switching from Guinness to cheaper brands of beer and lager, Diageo’s Lagos-based unit Guinness Nigeria Plc said last year.
Guinness Nigeria’s net income declined to 5.2 billion naira ($26.4 million) in the nine months through March, compared with 5.9 billion naira in the same period in 2014, the company said April 24. The shares gained 3.2 percent to 160 naira as of 1.08 p.m. in Lagos, paring the year’s decline to 4.9 percent. That compares with a 0.9 percent fall on the Nigerian Stock Exchange All Share Index.
click here to read more
Source: Bloomberg
#Nigeria #Orijin #Guinness #Diageo
