It was a night of honour, glitz, glamour, and celebration of creative excellence at the 2021 edition of the Lagos Advertising and Ideas Festival (LAIF) Awards by the Association of Advertising Agencies of Nigeria (AAAN) as X3M Marketing Ideas Limited, Dentsu MCGarrryBowen Limited, Insight Publicis Limited and Noah’s Ark Communications Limited win big at the event.
The award ceremony which was held on Saturday, November 20, 2021, at the Landmark Event Centre, Victoria Island, Lagos saw the Steve Babaeko-led X3M Marketing Ideas Limited emerge as the topmost ranked agency with 9 Gold, 16 Silver, and 8 Bronze. The Agency was also named the 2021 Agency of the Year.
Dentsu MCGarryBowen came second on the medals table carting home 2 Gold, 14 Silver, and 12 Bronze while Insight Publicis and Noah’s Ark emerged third and fourth respectively.
Insight Publicis won 3 Gold, 5 Silver, and 4 Bronze while Noah’s Ark Communications won 4 Gold, 6 Silver, and 6 Bronze.
Delivering his remarks at the event, the Special Guest of Honour, the Governor of Lagos State, Mr. Babajide Sanwo-Olu who was represented by the Commissioner for Establishment, Training, and Pensions, Lagos State, Mrs. Ajibola Ponle, commended the organizers for consistently making the event a reality.
While assuring AAAN of his administration’s commitment and support toward the success of the industry, Sanwo-Olu noted that the advertising industry, by their creative works, has contributed immensely in putting not only Lagos state but Nigeria on the global map.
In his welcome remarks, The President of the Association of Advertising Agencies of Nigeria(AAAN), Mr. Steve Babaeko, noted that the LAIF Awards remain the biggest platform to recognize and reward creativity in Nigeria.
Also speaking at the occasion, Chairman of the LAIF Awards Management Board, Mr. Lanre Adisa, explained that the 2021 edition of the award which is the 16th edition of the Festival received over 350 entries from a total of 21 Agencies.
He disclosed that the entries submitted are creative works of the Agencies on 40 brands while about 28 jurors worked on the entries to determine the best works for the honours.
In its commitment to the process of brands engagement and detailed brand storytelling, McEnies Global Communications has officially launched as a 360-degree marketing communications powerhouse with cross-solution services delivered by two new other businesses – Perfect Clicks Signature, a creative visual production firm and modelling services agency, Ruby Models.
The three-in-one businesses were unveiled on Friday, November 19th, 2021 at a grand event held in Ibadan, Oyo State.
While delivering her keynote speech during the three-in-one opening, Omolaraeni Olaosebikan, Group CEO of McEnies Global Communications said the three businesses are poised to integrate to offer extra value, provide solutions, re-define quality service delivery, and drive brand visibility for all its clients.
“Our goal is to create total marketing communications effects that leave a lasting memory of professional fulfilment, superlative business result and personal endearing experience. We have not come to this space to claim we know better, but we are bringing a collection of innovative ideas and youthful touches, using technology-driven processes to bring to fore your personality, organization and brands for a remarkable experience.
L-R- Group Chief Executive Officer (CEO), McEnies Global Communications, Omolaraeni Olaosebikan, Chairman of the occasion, Chief Charles Ajibade, Commissioner for Information, culture and tourism, Oyo State, Dr. Wasiu Olatubosun and Representative of the Commissioner for trade, investment and Commerce, Oyo State, Engr. Tajudeen Raji at the official launch of the 3in1 Marketing Communications integrated businesses held in Ibadan, Oyo State on Friday, 19th November 2021
“The three corporate brands offer what your companies, products, services, personal life need to stay on the competitive edge whilst you keep a great feel of your decision to come along with us”, she said.
McEnies Communications, which has been in existence for almost a decade, is an upwardly wholly company with vast expertise and competency in integrated marketing communications services providing top-notch solutions to big and medium firms across all sectors and industry.
McEnies takes a holistic approach to marketing communications services and digital engagements. Its in-house expertise and services allow the company to offer agile, flexible and value-driven solutions for its clients.
Narrating how the three companies were established, Olaosebikan stated that “McEnies Communications discovered the undisputed importance of visual representation and maximally deploying technology to bear creativity within the industry for effective brand engagement. That led to the birth of Perfect Clicks Signature, a new definition of photography and video production.
“Perfect Clicks Signature is a game-changing brand, passionate about creating delightful experiences for customers. It is a brand that renders premium photography, videography and cinematography, equipped with cutting edge technology and highly experienced experts.
L-R- Group Chief Executive Officer (CEO), McEnies Global Communications, Omolaraeni Olaosebikan, Commissioner for Information, culture and tourism, Oyo State, Dr. Wasiu Olatubosun Chairman of the occasion, Chief Charles Ajibade and Representative of the Commissioner for trade, investment and Commerce, Oyo State, Engr. Tajudeen Raji at the official launch of the 3in1 Marketing Communications integrated businesses held in Ibadan, Oyo State on Friday, 19th November 2021
Under Ruby Models, we build children’s confidence and nurture their talents. We believe that’s one of the greatest gifts you could give a child. We do this through our talent coaching, technology and photographic skills. Ruby Models agency is a trusted modelling hub for kids. We work through various diverse needs for kids to be deployed for advertising, promotional and media needs for all forms of businesses and engagements”, she disclosed.
Chairman of the occasion, Mr. Charles Ajibade, in his remark, applauded the vision of the consummate communication expert, Olaosebikan for her passion and tenacity to help her clients meet their personal and business goals.
“The focus on marketing in the future is going to be one-on-one customer relationships instead of a one-to-many mass-market approach. This is why businesses like McEnies Global Communications, Perfect Clicks Signature and The Ruby Models Company are primed for the future. Leveraging on these services will keep many smart companies at a competitive advantage.”, he urged.
In the same vein, the Commissioner for Information, Culture, and Tourism in Oyo State, Dr. Wasiu Olatubosun stated that the launch of McEnies Global Communications, Perfect Clicks Signature and The Ruby Models Company in Oyo State is a welcome development that would greatly help both individuals and businesses in the state.
“In this age of technology, the world has become a global village where people can now communicate in real-time and to a large heterogeneous audience, hence the need to consult professionals for public relations, advertising, digital marketing, photo and video production etc. These cross-solutions are what three companies are offering so it’s a one-stop-shop for smart business in need of these services in Nigeria”, he said.
Oyo State Commissioner for Trade, Investment & Commerce, Barr. Olasunkanmi Aremu Olaleye also commended the Group CEO of the company, Omolaraeni Olaosebikan, for the launch of the three businesses in Oyo State.
Group Chief Executive Officer (CEO), McEnies Global Communications, Omolaraeni Olaosebikan, and representative of the Commissioner for Trade, Investment and Commerce, Oyo State, Engr. Tajudeen Raji at the official launch of the 3in1 Marketing Communications integrated businesses held in Ibadan, Oyo State on Friday, 19th November 2021
According to him, “It would no doubt create jobs for the youths, contribute to the socio-economic development of the state and deliver premium services for residents”.
Other dignitaries present at the grand opening include Jibola Ogunkeyede, MD/CEO, Ufitfly Worldwide; Hakeem Akintoye, Partner at Synergy Law Partnership; Charles Ajibade, Chairman of the occasion; Hon. (Mrs.) Folashade Ajala, Board Member of Oyo State Universal Basic Education Board (SUBEB); Chief Abimbola Davis, Chairman/CEO Capital 3 Limited and SI Salami, Senior Partner, SI Salami and Co amongst other guests.
The organizers of Brandcom Awards, Brand Communicator, has concluded plans to honour two illustrious brand personalities that passed away this year.
Former Chief Customer Officer of Pay-TV giant, MultiChoice Nigeria, Martin Mabutho would be honoured with Marketing Icon Of The Year, while the former Chairman of the Brand Journalists Association of Nigeria, BJAN and head, Brands & marketing desk of Vanguard Newspaper, Princewill Ekwujuru will receive the Brand Journalist of the Year Award.
Mabutho died at 47 in the early hours of Tuesday, August 24, 2021, a month to his 48th birthday, while Ekwujuru died after battling for more than two weeks in a coma, trying to overcome serious brain damages he sustained in a ghastly road accident. He subsequently died on July 23rd, 2021.
From 1999 when his professional journey started at MultiChoice, Mabutho rose through the corporate ladder to become Brand Manager at MNet Africa in South Africa from 2003 to 2007; DStv Mobile’s Sales and Marketing Manager for Sub-Saharan Africa and Head, Marketing and Sales. He later become MultiChoice Nigeria’s General Manager of Sales and Marketing and Chief Customer Officer in October 2018, five years after moving to Nigeria.
As MultiChoice Nigeria’s CCO, Mabutho was responsible for driving the customer group strategy, which covers customer value management, sales, marketing, customer experience and care.
He was part of the team that launched Africa Magic in 2003, the Big Brother Africa show, Big Brother Naija, Idol West Africa, and several other shows on DStv.
Princewill Ekwujuru worked with great passion and commitment with Vanguard Newspaper for 20 years. He headed the Brands & marketing unit of the Business Desk of Vanguard Media Limited till his death on July 23rd, 2021.
Due to his dedication, he was elected the National Chairman, Brand Journalists Association of Nigeria (BJAN). He won several awards including ADVAN Journalist of the year in 2017. Ekwujuru hails from Njaba, Imo state, and is married with children.
This year’s Brandcom Awards holds on Friday, November 19, 2021, at D’Podium International Event Centre, Ikeja, Lagos. The event will equally recognize some brands, agencies, and marketing communications professionals that have made outstanding contributions in the last one year.
According to the organisers, this year’s awards night promises to be an unforgettable experience as the stage is set to celebrate and honour achievers in the brands and marketing industry, especially those who have gone the extra mile to make great impact in the industry.
A Federal High Court, Lagos on Monday fixed December 1, 2021 to deliver its ruling on a contempt proceedings filed by Rite Foods against the Managing Director of Nigerian Bottling Company(NBC), Mathieu Seguin over alleged trademark infringement.
Earlier, NBC had filed an application before the court seeking to dismiss the contempt application against Seguin.
The trial judge, Justice Ambrose Lewis-Allagoa fixed December 1, 2021 for ruling on the application after listening to the argument and submissions of counsel to parties in the suit.
At the resumed proceedings, counsel to NBC’s MD, Mr. Oluseye Opasanya (SAN), informed the court that he filed motion on notice dated October 18 supported with seven paragraph affidavit together with one exhibit.
Opesanya said that he brought a motion to strike out the suit on a number of reasons.
Earlier, counsel to the Nigerian Bottling Company (NBC), Ngo Matins Okonma told court that he filed an application dated October 15, 2021 and a motion on notice in respect of the application to regularise the application dated November 11.
In his motion on notice, he prayed for the order of court to set aside the committal proceeding in its entirety including all processes used by plaintiff in the proceedings
Opesanya and Okonma argued that the contempt order has been discharged.
“The order upon which committal proceedings was premised on has been discharged, set aside by Justice Chukwujekwu Aneke on September 27, 2021.
NBC prayed the court to dismiss contempt suit and award punitive costs against Rite Foods if it finds no basis for the contempt proceedings. The senior lawyer therefore urged the court to grant their application and dismiss the case.
However, in his response, the plaintiff counsel, Mr. Muyiwa Ogungbenro told court that he filed counter affidavit sworn to by Francis Omoniyi, dated October 21,2021 and a written address to support their case.
He prayed the court to dismiss all application filed to set aside the contempt proceedings.
After listening to the argument and submissions of the parties, Justice Lweis-Allagoa adjourned ruling to Dec 1, 2021.
It would be recalled that on September 27, 2021 Justice Aneke upheld the objection filed by NBC’s counsel, suspending further hearing of Rite Foods’ case and discharged the ex-parte order granted Rite Foods against NBC and its privies.
The court also refused Rite Foods’ motion for interlocutory injunction seeking to prevent NBC from marketing or distributing Predator Energy drink in Nigeria.
Although the court agreed with the plaintiff that the instant suit is not an abuse of court process, but held that “to avoid confusion, this court will cease from further hearing of this suit to allow other suits go on. I, therefore, discharge the order made by me to allow the instant suit go on.”
When the matter came up for hearing before Justice Lewis-Allagoa, Mr. Oluseye Opasanya (SAN) and Mr. Mark Mordi, counsel to NBC and its Managing Director informed the court that since Rite Foods’ counsel had failed to withdraw the contempt suit, they had no option than to file a formal motion to have the contempt suit dismissed with substantial costs against Rite Foods.
Opasanya told the court that he has an application dated October 18 and filed on October 21, 2021, seeking to quash the contempt against his client. He reiterated that Justice Aneke had discharged the exparte order made against his client on September 17, 2021.
Opasanya (SAN), prayed the court to set aside or dismiss the entire suit.
The NBC said that there has been no trademark violation or passing off with its Predator Energy drink and maintains that the Predator brand logo had been in existence and in use in many markets even prior to the launch of Fearless by Rite Foods in the Nigerian market.
As the year is coming to a close and organizations are continuously having conversations around thriving in a post-pandemic era, the International Association for the Measurement and Evaluation of Communication (AMEC), an international association for communications measurement and evaluation practitioners is organizing its annual AMEC Measurement Month (AMECMM) 2021 this November.
This year’s edition will bring together more than 160 members of the association in 86 different countries around the world and P+ Measurement Services, the foremost media intelligence agency and a member of AMEC is spearheading the 6th edition of the event in Nigeria with the theme: “How to Effectively Demonstrate the Value of PR Measurement.”
The event which is slated to hold on the 19th of November 2021, between 12pm and 1:30pm (WAT), will take place virtually and will feature professionals from the communications, public, measurement and evaluation industry discussing and sharing insights, ideas and solutions from their wealth highlighting the many challenges currently being faced by the industry.
The event will feature Nicole Moreo, the EVP, Head of US Analytics, Ketchum; Henry Okorafor, a Senior Associate with Stephanie John & Associates; Kemi Olawoye who is the Chief Communications Officer, Bora Communications and Ben Levine, the Director and Partner of FH TRUE Global Intelligence.
The AMEC Measurement Month is a free-to-attend event, which consists of webinars, executive discussions, workshops, and much more. It focuses on helping PR and communications professionals understand the value and importance of Communications/PR measurement, evaluation and media performance audit.
To attend the event, you can register using the link below:
Discourse on media management and advertising regulations will take the centre stage at the Brand Journalists’ Association of Nigeria (BJAN) 9th Annual General Meeting (AGM)/Conference billed to take place on December 11, 2021 at the Presken Hotel and Suites, Opebi, Ikeja, Lagos.
The theme of the conference is, ‘’Media Management In Difficult Times’’ while the keynote speaker is Mr. Ramon Nasir Olanrewaju, Group Head, External Affairs & Media, UBA Plc.
Also speaking at the event is Mr. Nosakhare Uwadiae, Esq, Managing Partner, Gee Law Firm, who would be speaking on ‘’Advertising, Impartiality And Regulation’’.
Speaking on the event, Mr. Afolabi Idowu, Chairman, BJAN said the conference promises to generate germane ideas that will help to consolidate the growth of the Nigerian media environment.
He noted, ‘’BJAN AGM/Conference is our flagship event that seasoned analysts and informed stakeholders gathered to dissect key issues facing the marketing industry and Nigeria at large.’’
‘’Our plan at this year is to brainstorm on the imperatives in developing our very vibrant media sector. It is our belief that at the end of the conference, we will generate germane thoughts that will help to strengthen the growth of Media practice in Nigeria.
“Experts in media and advertising law profession with verifiable records have been lined up for the event, we believe that the knowledge shared at the event would deepen the knowledge base of individuals, groups and entire Nigerian ecosystem’’, he added.
Idowu urged brands and organizations to embrace the strategic marketing opportunities that the event provides to consolidate and deepen visibility and presence of their product and services in the marketplace.
BJAN had the Maiden edition of the conference in 2013 in Abeokuta, the Ogun State capital with the theme “Repositioning Centenary Brands to Align with Modern Realities.”
The 2020 edition held in Lagos, had its theme as “Consolidating Nigeria’s Agricultural Revolution: Challenges, Opportunities and Lessons.“
Brand Journalists’ Association of Nigeria (BJAN) is the umbrella body of practicing journalists covering Brands, Public Relations, Marketing and advertising beat in Nigeria.
Popular political economist and Professor of Entrepreneurship, Prof Pat Utomi will be the Keynote Speaker at the 2021 Brandcomfest scheduled for Thursday, 18th November at the D’Podium Event Center, Ikeja, Lagos.
In a statement made available to BUSINESS BELLS by the organisers, Utomi is billed to speak on “Dissecting the Prism of brand building in a volatile economy”, which is also the main theme of this year’s event.
The erudite Professor is a fellow of the Institute of Management Consultants of Nigeria and founding Senior Faculty of the Lagos Business School-Pan Atlantic University, and Chairman and Chief Executive of the Integrated Produce City (IPC). He is also the Executive Vice Chairman of SmartCity Lagos, a joint holding with Dubai Holdings by SmartCity Dubai.
He has served on the Africa Board of a leading global professional service firm, Deloitte, and was Director of The Centre for Applied Economics at the Lagos Business School.
Utomi has served in senior positions in government, as an Adviser to the President of Nigeria; the Private Sector, as Chief Operating Officer for Volkswagen of Nigeria, and in academia. He is the author of many business and public policy books including the award-winning “Managing Uncertainty: Competition and Strategy in Emerging Economies, 1998 and the 2006 book “Why Nations are Poor”, “The Art of Leading”, 2016, as well as “WHY NOT”, 2019.
He is the Chairman of PAFTRAC the Pan African Private Sector Trade and Investment Committee sponsored by AU and Afrexim Bank. He is also the Founder and CEO of the Centre for Values in Leadership (CVL). He was a candidate for President of Nigeria in 2007 and 2011.
Other key speakers at the event include Dr Olalekan Fadolapo, Registrar/ CEO, Advertising Practitioners Council of Nigeria (APCON), Emmanuel Agu, Group Marketing Director, Jotna Nig Ltd; Amaka Onyemelukwe, Director, Public Affairs, Communications and Sustainability, The Coca Cola Company; Titilope Oguntuga, Head, Sustainable Development/ Corp. Brand, Lafarge Africa; Israel Opeyemi, Chief Strategist, Chain Reaction; Femi Adelusi, President MIPAN, and many others.
Some will also be speaking on various sub-themes under the following segments; Fintech, Sustainability, Insurance Marketing, SME Brand Masterclass, FMCG, Industry Standard of Practice, PR among others.
Brandcomfest is designed to be the largest gathering of stakeholders in the brand and marketing communications landscape. The annual event caters to the most contemporary and topical issues in the industry, as the foremost thought-leadership platform for stakeholders within the brands and marketing communications value chain.
According to Joshua Ajayi, convener of Brandcomfest and publisher of Brand Communicator, “Last year, because of COVID we could not hold the event but this year we are back, to do bigger and better than what we did at our maiden edition in 2019 which was one of the biggest events of that year. Brandcomfest is more essential at this time which is the reason for the choice of our theme.
“The essence of Brandcomfest remains the same post-COVID and it is to serve as our way of linking the future, in line with the vision which we have religiously kept faith with since we hit the newsstands over a decade ago”.
Brand Communicator is Nigeria’s most consistent brand and marketing communications magazine. It is also the organiser of the Women in Marketing and Communications Conference/Awards (WIMCA), the largest gathering of female marketing and communications professionals in Nigeria and Sub-Saharan Africa. It is also a partner to the two biggest creative advertising shows on the continent, Loeries Africa Middle East and African Cristal Festival.
That the Nigerian consumer market has remained an attractive space for investors cannot be overemphasized. Little wonder that in the food and ready-to-eat segment of the market space, there has been a phenomenal increase of activities. In this market segment, biscuits, in different forms and categories, which are widely eaten among young children and even adults, obviously remain relevant.
Though Nigeria is home to several local and international manufacturers of biscuits, interestingly, the local manufacturers are holding their own in the struggle for market share, as they easily have command of over 50%.
In the biscuit industry, however, while it can be categorized into three categories namely cookies/crackers, sweet and chocolate, international biscuits and confectionery maker, McVitie’s leads the digestive section. McVitie’s annual global turnover is around $5.2billion as it sells about 2 billion units of the product annually.
Going by reports, the preference for digestive can be understandable. Digestive biscuits are healthier than their counterparts. This is because of its fiber content. Sometimes described as a sweet-meal biscuit, digestive biscuit was first developed in 1839 by two Scottish doctors to aid digestion.
The term “digestive” is derived from the belief that they had antacid properties due to the use of sodium bicarbonate when they were first developed. They are meant to be lower in sugar (mildly sweet), and due to the presence of more baking soda, eating digestive biscuits are supposed to help those who suffer from acidity. Digestive biscuits are also supposed to help you with your weight loss journey.
The digestive main ingredients include wheat flour, sugar, malt extract, butter (or in cheaper recipes or for vegans or those who are lactose intolerant: vegetable oil), wholemeal, leavening agents (usually sodium bicarbonate, tartaric acid and malic acid), salt.
However, a newly established Nigerian world class manufacturer of cookies and snacks, Mayor Biscuit Company Limited (MABISCO), headquartered in O.P.I.C Industrial Estate, Agbara, Ogun State, Nigeria is already giving McVitie’s and others a good run for their money as the company has been making serious impact in the digestive biscuit section.
Committed to producing innovative products using state-of-the-art machinery and engineering that guarantees only quality products, Mabisco digest has been performing wonderfully well in the market as many consumers have been attesting that it is better than its counterpart, especially the locally produced McVitie’s.
A survey carried out by this medium reveals that Mabisco scores high, not just across parameters of taste and crunch, but it is also priced competitively. According to consumers, Mabisco Digestive biscuits are not only delicious, but it also brings with it all the goodness one expects from a digestive biscuit.
While digestives are more crumbly than crunchy, texture can make or break a good digestive biscuit. Mabisco Digestive has a bigger sized crunchy that turns to powder on chewing. The bigger sized crumb is also what feels fibrous in the mouth. You should expect a soft-crunch in your digestives, rather than a crispy-crunch.
There’s a reason why those who consume the Mabisco digest apparently love the snack. You think of having only one and ending having at least five. The soft crumbly texture and mildly sweet taste, along with how beautifully it becomes a tea-time buddy, are just some of the things everyone who tastes the Mabisco digestive once, gets addicted to.
“Since I bought the Mabisco digest for my children, they cannot just do without it. The biscuit does not have too much of crumbs, unlike the others,” a consumer, Mrs Evelyn Adekunle submitted.
Another consumer who spoke with this reporter noted; “Mabisco digest has the same quality like the quality you get anywhere across the globe.”
“I salute the company producing this high quality digestive. You can hardly know that it is produced in this country. I just pray that they won’t reduce the quality,” Mr. Sunday Ikechukwu said.
Organisations across Africa are jostling to be recognised and awarded the most compliance company in Nigeria, West Africa and Africa and other categories at 2021 World Quality Day, scheduled to hold on 11th November, 2021 at Four Points By Sheraton, Victoria Island Lagos.
The Global Quality Excellence Awards is a platform of the World Quality Alliance and Chartered Quality Institute UK designed to celebrate organisations that have shown greater commitment to quality on World Quality Day.
The theme for this year’s commemoration is “Sustainability: Improving our products, people and planet”.
According to Mrs. Ifeoma Favour Emeka, Secretary Awards General Committee, “Quality sustenance is not an option; organisations should be committed to building quality sustainability into their culture and DNA, because the issue of sustainability in quality management is a key one, adding that “If sustainability hasn’t already become an essential part of your business operations, your competitive advantage and your reputation, it will,” she said.
She said, for the WQA/CQI, the concept of improving our products, people and planet is in line with our Royal Charter and our mission to champion quality management for the benefit of society. So we encourage you – whether you’re a WQA/CQI member or a professional working in quality management – to join us in promoting World Quality Day. This is a great opportunity to support your organization not only to think about but to act on sustainability.
“The Global Quality Excellence Awards 2021 is meant to celebrate Excellence in Quality conformance to customer needs and promote awareness of the important contributions that quality makes towards a nation, or organization growth and prosperity, in a Global Economy where success depends on quality, innovations and sustainability, the Award is your chance to reinforce these, as the foundation of organization and brands for their achievements in improving brand/business performance.”
The Award is organized by World Quality Alliance with the support of the Chartered Quality Institute. The two organizations made an alliance to improve relationships in order to intensify the Global Commitment to Quality principles and their application in all segments of the society.
The organisers said that the 2021 World Quality Day Exhibition will provide organizations with: maximum exposure at a premier congress and exhibition devoted to increasing brand visibility, an opportunity to build and reinforce strategic relationships with customers.
Other benefits to be derived by firms include a cost-effective way to reinforce organizations’ brand and build brand awareness among a relevant audience. Exhibition will also offer organisations time to present latest innovation and new products or services to the participants and showcase expertise and capabilities.
Nigerian Breweries Plc, the foremost brewer and leading beverage company in Nigeria has announced its figures for the 3rd quarter of 2021, delivering N309.22 billion in revenues for the third quarter of the 2021 financial year.
The revenue represents an increase of 32.1% from N234.02billion recorded in the corresponding period in 2020.
Further breakdown of the audited result showed that profit for the company in the third quarter of the financial year also grew from N7.1billion to 8.47billion, representing a 20.1% rise.
Cost of Sales rose significantly by 37.9% from N144.1Billion in 2020 to N198.74billion in the period under review in 2021, while Marketing, Distribution, and Administration Expenses also grew by 27,2% from N67.86Billion in 2020 to N86.32Billon in 2021.
The board of directors of the company has approved an interim dividend of N3.23billion payable to shareholders at 40kobo each per ordinary share of 40k.
A statement signed by the Company Secretary/Legal Director, Nigerian Breweries Plc, Uaboi Agbebaku revealed that the company remains committed to its strategy to deliver improved growth as it continues to monitor the business environment and remain dynamic in its response to challenges confronting the business as well as that of the economy, particularly in the face of COVID-19 pandemic.
Agbebaku explained that the company would continue to deploy cost-efficient measures to keep the balance sheet strong and healthy while ensuring that the health, safety and welfare of its employees, customers and partners are protected.
