Welcome to Street Journal Forum, Our motto is "We Disagree To Agree", you can have an open discussion here on anything, you can respond to Topics freely. Upload pictures you want to share and please invite your friends!

CocaCola Nigeria Revenue Slumps To NGN194 billion, To Further Raise Prices

We Disagree To Agree.....Let discuss everything!
Posts: 28677
Joined: Fri Apr 15, 2016 8:31 pm

CocaCola Nigeria Revenue Slumps To NGN194 billion, To Further Raise Prices

Unread postby Wsj » Mon Mar 20, 2017 6:06 pm

CocaCola Hellenic Bottling Company, the parent company of the CocaCola Nigeria (Nigerian Bottling Company) said it might further raise prices in 2017 to fully adjust to Nigeria’s inflation.

The company made the disclosure in its 2016 integrated report where it reported that its net profit was GBP344 million compared to GBP280.7 posted in 2015. Its net revenue from Nigeria fell by 6% to GBP583.3 compared to GBP621.6 million in 2015. To hedge against inflation and devaluation risk, Zoran Bogdanovic, Region Director Coca-Cola HBC said:

“The macroeconomic conditions in Nigeria remain challenging with inflation rates expected to reach 17% in 2017 and the likelihood of a further devaluation of the naira. In line with our strategy, we implemented price increases in 2016 and we will continue to adjust prices in 2017”.

He added that “Despite our focused approach with ‘magic price points’ and changes in package sizes, price increases are expected to impact sales volume growth adversely. We expect to see volume growth from 2018 onwards, supported by a return to a GDP growth in the country”

The company has not officially responded to the lawsuit from its global office and or issue any cautionary statement on the London Stock Exchange where it is quoted on the likely impact of the events in Nigeria will have on its business and revenue profile.

Nigerian Bottling company, its local subsidiary said last week that it has appealed the court judgement which ordered it to print safety warnings on Fanta and Sprite due to their levels of benzoic acid that was said to be poisonous when taken with Vitamin C.

Coca-cola.jpg (44.4 KiB) Viewed 96 times

Return to “Enter forum disscussion”

Who is online

Registered users: Google [Bot]

Disclaimer: Opinions expressed in comments are those of the comment writers alone and does not reflect or represent the Publisher's views.

Login · Register

In total there are 26 users online :: 1 registered, 0 hidden and 25 guests
Registered users: Google [Bot]
Most users ever online was 111 on Wed Mar 28, 2018 9:13 pm
Total posts 30087
Total topics 29041
Total members 1588
Our newest member RichardosHed
No birthdays today