Nigerian Breweries declares N157.3 Billion Revenue for H1 2016

The Board of Directors of Nigerian Breweries Plc has declared a revenue of N157.37 billion for the first half of 2016. The unaudited and provisional results released to The Nigerian Stock Exchange show that the amount represents a 4 per cent increase over the N151.67 billion declared in the corresponding period in 2015.

The results show that the results from operating activities of the Company improved by 0.10 per cent from N33.90 billion in the first half of 2015 to N33.94 billion in the corresponding period in 2016. A further analysis shows that Profit Before Tax (PBT) dipped by 17.64 per cent from N33.99 billion in the period under review in 2015 to N25.52 billion in the same period in 2016 while Profit After Tax (PAT) dropped by 11.24 per cent to N19.06 billion in the current period from N21.47 billion in the same period in 2015.

A statement by the Board of Directors said in the first half of 2016, the Company was able to deliver top line growth with revenue increasing by 4 per cent compared to the first six months of 2015. It added that rising inflation combined with higher inputs costs as a result of scarcity of foreign exchange, led to a flat operating profit compared with the preceding year. Despite a lower interest cost from the Commercial Paper Programme, PAT declined by 11 per cent, mainly due to foreign exchange losses arising from the rates going up in June.

The statement signed by the Company Secretary/Legal Adviser, Mr. Uaboi Agbebaku, further said although the Board expects the operating environment in 2016 to remain challenging for the rest of the year, the Company remains focused on its twin agenda of Cost Leadership and Market Leadership supported by innovation and the Board remains positive on the Nigerian market for the medium and long term.

RRS APPREHENDS SUSPECTED ARMED ROBBER

Operatives of Rapid Response Squad (RRS) of the Lagos State Police Command, over the weekend arrested the suspected member of an Eight-man robbery gang, Abdullahi Olanrewaju, 30, during their operations at Abeje and Onibeju Streets, off Capitol road in Agege Local Government area of the state.
The operatives, who were led to the scene of the robbery by Inspector Anthony Inege, noted that one of the victims, who managed to escape through the window, alerted them that armed men were operating in their building.
The officers followed the complainant to the robbery scene where they met men of underworld numbering about eight in an attempt to enter another building on the street. 

Sacked Employees of OAGF Protest, say Sack Unjust

No fewer than 71 accounting Officers, employees of the Office of the Accountant General of the Federation (OAGF),who were recently disengaged by the Federal Civil Service Commission (FCSC), have petitioned, Alhaji Ahmed Idris, Accountant General of the Federation, (AGF) and Joan Ayo, Chairman the FCSC, over what they termed unjust termination of appointment.
They alleged for no just cause, the appointment letters they were offered in 2014 after undergoing interview, screening and documentation, were suddenly withdrawn in 2016 without cogent reasons.
They said their engagement followed laid down civil service rules and regulations and therfore at lose of what led to the termination of their appointment after waiting for two years to be posted to offices across the country.
They also alleged that while some who have persons in government were retained and posted, they were shown the exit door for reasons unknown to them.

EFCC seizes Fayose’s multimillion-naira houses in Lagos, Abuja.... What Chief Falae Told EFCC

The Economic and Financial Crimes Commission has seized some properties said to belong to Governor Ayodele Fayose of Ekiti State.

It was learnt that the properties located in the highbrow areas of Lagos and Abuja were seized as part of investigations into the N1.219bn the governor allegedly received from the Office of the National Security Adviser when Col. Sambo Dasuki (retd) held sway, through a former Minister of State for Defence, Musiliu Obanikoro, as well as some kickbacks he (Fayose) allegedly received from the Ekiti State Government contractors.

VETERAN BROADCASTER AND FAAJI FM BOSS AMBROSE SOMIDE HONOURED WITH LIFETIME ACHIEVEMENT AWARD

Popular broadcaster and boss of Faaji Fm, Ambrose Olutayo Somide was last night honoured with the Lifetime Achievement Award for Outstanding Contribution to Broadcasting in Africa at the African Culture and Image Awards held at the Scadshow Theartre, Atlanta Georgia. 














We at MetroNews Celebrate this very creative and hard working pride of the Broadcast industry ... Contrats Dr.Ambrose.

Ambrose Olutayo Somide was yesterday,July 16,2016 in Atlanta Georgia honoured with the Lifetime Achievement Award in the Performing Art, Culture and Tourism Development in Nigeria,Africa (Broadcast Category)by African Culture and Image Awards held at the Scadshow Arts Theatre, Atlanta GA. The Lifetime Achievement Award was given in recognition of his immense contributions to the development of Broadcasting, resounding success in motivating  others in the arts and for bringing Professionalism to bear in all he does.
Also given Lifetime Achievement Awards in the Arts are Evangelist Yinka Ayefele, MON, Ace Producer Femi Ojetunde who was instituted into the ACI Hall of Fame for his exploits in the Music business  among others. Many notable Nollywood Artistes were also honoured with different Awards in different categories with Soji Taiwo (Omo Banke), Yewande Adekoya(Kudi Klepto) winning in the different categories  and AbiMegaPlus going home with the Best Gospel Artist Worldwide as well as US based Juju Musician King Rokan crowned as the Best Juju Artiste in the Diaspora. Post Humours Awards were giving to Late Singer/Songwriter OJB Jazreel, Normoloss, etc. Presenting the Award during the colourful night anchored by Femi Brainard and Bayo Bankole (Boy Allinco),Ms Trenette Oduneye, President  ACI-Awards said the Award was Instituted to honour those who have excelled in their chosen careers and are breaking new grounds.

Why It Is Dangerous To Patronise Non Professional Property Merchants - Admiralty Homes CEO

Nigerians have been called upon to patronise property merchants who can deliver world-class building and apartments with good quality materials and a touch of Italian and Spanish finishing in a flood-free serene environment.

The Chief Operating Officer, Admiralty Homes Limited, Mr. Olaiwola Salami made this remark in Lagos while speaking on the need for the use of high quality materials in the day to day construction works in the country.

PHOTOS AS PRETTY ACTRESS ALABA OLATUNDE CELEBRATES BIRTHDAY IN LONDON WITH PASUMA,DORIS SIMEON

Uk- based Actress, Alaba Olatunde celebrated her birthday with friends and colleagues from the entertainment industry.

The party was graced by top fuji artist, Pasuma, Actress Dorris Simeon, Kayode Peters, Mofe Duncan and many others. The celebrant, who looked stunning for her birthday took to her instagram page to share lovely pictures from the party.

Nice cancels jazz festival after Bastille Day killings

Nice (France), July 16, 2016 (Reuters/NAN) A five-day jazz festival in Nice has been cancelled following the killing of no fewer than 84 people in the city by a truck, organisers said.

The organisers announced the cancellation in the festival’s website but did not give further details.

The driver of the truck, identified as a 31-year-old French citizen of Tunisian origin, had rammed the vehicle into a crowd marching on French National Day in Nice.

French police shot dead the driver and recovered arms and grenades inside the vehicle.

The jazz festival, which had lined up artistes such as Senegalese singer, Youssou N'Dour and British trip hop act, Massive Attack, was scheduled to run from Saturday to Wednesday.

``Cancellation of the Nice Jazz Festival after the terrible attack which hit Nice on July 14 is inevitable," the organisers said. (Reuters/NAN)

POLICE DISLODGE MORE KIDNAP GANGS IN KOGI, RESCUE VICTIMS · As kidnappers suffer fatality

The Nigeria Police Intelligence Response Team (IRT) has again smashed more notorious kidnap gangs that have terrorized Kogi State and its environs and rescued four kidnapped victims at different locations in Kogi State.

In a special intelligence led operation conducted by the operatives of the Intelligence Response Team of the IGP’s Monitoring Unit at different black spots in Kogi State, three members of a notorious kidnap gang that has for a while operated in major cities in Kogi and neighbouring States were trailed and arrested at their hideouts in the outskirt of Egume and Anyimgba Towns in Kogi State.

NSCDC DESTROYS 250 ILLEGAL REFINERIES, ARREST 118, CONVICTS 40 SUSPECTS SAYS-GANA

The Nigeria Security and Civil Defense Corps (NSCDC) in its bid to secure the lives, properties and government Critical Infrastructures have made over 118 arrest within one year of the incumbent Commandant General Abdullahi Gana Muhammadu's regime secured over convictions and destroyed over 250 illegal refineries between July 2015 to date.