Heineken's Nigerian Unit Shuts Two Plants as Forex Costs Bite [BNN Bloomberg (Canada)]
Procter & Gamble Company (The) (PG)
Last procter & gamble company (the) earnings: 4/17 07:00 am
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Source: BNN Bloomberg
Nigerian Breweries Plc has nine plants in Africa's most-populous nation and has invited unions to discuss the impact of the proposed measure on workers including “providing strong support and severance packages to all affected,” the company said in a filing. The maker of Star lager and Legend Extra Stout is joining multinational companies including Procter & Gamble Co., GSK Plc and Bayer AG that have been forced to either revamp their business or exit the country. The naira's weakness and the resulting surge in prices has severely eroded the ability of Nigerians to buy consumer goods. Nigerian Breweries, which in February said that it was facing its worst downturn in history, is reorganizing its operations after running into a loss of 106 billion naira ($94 million) in 2023. The loss is due to “a combination of challenging economic factors ranging from heightened operational costs, continued pressure on consumer disposable income, escalating inflation rates, FX volatility, amon
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PG
Earnings
- 4/19/24 - Beat
PG
Sec Filings
- 4/29/24 - Form 8-A12B
- 4/29/24 - Form 8-K
- 4/25/24 - Form 144
- PG's page on the SEC website