Tag Archives: 7Up Bottling Plc

Court sets date for shareholder vote on Seven-Up acquisition bid

Seven-Up Bottling Company Plc announced on Friday that it would hold a court appointed shareholder’s meeting in January to approve a bid by majority shareholder Affelka S.A. to acquire the remaining shares of minority shareholders it does not already own in a deal worth N19.33bn ($60m).

Seven-Up minority shareholders kick against acquisition bid

Minority shareholders of Seven-Up Bottling Company Plc have railed against the move by the firm’s majority shareholder, Affelka S.A. to acquire the remaining shares of the minority shareholders it does not already own.

Seven-Up announced on Thursday that its board had received an offer from Affelka S.A. (“Affelka”) to acquire the remaining shares of minority shareholders at a cost of ₦112.70 per share for the 171.54 million ordinary shares at ₦0.50 kobo each held by the minority shareholders, which translates to ₦19.33bn ($60 million). The bid price represents 15% premium on the last trade share price of the company on 9th August 2017, the last day prior to the date of the proposal was received from Affelka and 21.8% premium on the trading price as at close of trading on 28th November 2017.

Seven-Up receives buyout offer from majority shareholder, seeks to go private

Seven-Up Bottling Company Plc, the bottler of PepsiCo brands of soft drinks in Nigeria announced on Thursday that its board has received an offer from Affelka S.A. (“Affelka”) to acquire the remaining shares of minority shareholders it does not already own at a cost of ₦19.33bn ($60 million).

Seven-Up losses widen in half-year as finance cost bites

Seven-Up Bottling Company Plc (“SBC”) on Tuesday reported its half-year results for April through September, with the soft drinks maker posting a record loss of ₦6.2bn ($17 million), a 302% increase from last year’s loss of ₦1.6bn ($4.4 million).

The company blames its misfortune on skyrocketing net finance cost which ballooned to ₦3.6bn ($9.9 million) in the six months to the end of September, a 91% increase from last year’s ₦1.9bn ($5.2 million).

Despite the loss, the company posted an impressive 13.5% increase in sales to ₦53.3bn ($146.8 million) for the period.

NSE downgrades 7-UP from Special Pricing Status

The Nigerian Stock Exchange (“NSE”) has downgraded Seven-Up Bottling Company Plc from its “Special Pricing Status” category following the fall in share price of the company’s stock to below N100.

In a circular made available at the weekend, the NSE said that it would downgrade Seven-Up Bottling Company from a “High-Priced Stock” category to the general stock category with effect from Monday 23 October, 2017.

Seven-Up losses pile up as finance charges skyrocket

Seven-Up Bottling Company Plc (“SBC”), the bottler of PepsiCo brands of soft drinks in the country, on Friday reported a net loss of N2.5bn for the first quarter of its 2017/2018 financial year (Apr – Jun) despite recording nearly 20% sales growth of N31bn from N27bn in the previous year. The loss adds to the company’s woes which had reported a N10.7bn loss in June for the 2016/2017 financial year.

The company cited skyrocketing net finance cost as the reason for the first quarter loss. Finance charges rose a record 85% to N1.8bn, from N961m in the same period a year ago.

Seven-Up losses widen at year end

Seven-Up Bottling Company Plc, on Friday reported a net loss of N10.7bn for the full-year ended 31 March 2017, down from the N3.3bn profit recorded a year earlier.

The company blames higher input costs, driven by inflation and unrealized foreign exchange loss for the poor performance. Cost of sales in the period rose 57% to N95bn, up from N60.6bn.

Seven-Up losses grow despite sales growth

Seven-Up Bottling Company, bottlers of the famed Pepsi cola brand released its financial results on Tuesday for the nine-months  ending 31 December 2016.

The soft drinks maker reported a net loss of –N4.8bn for the period (Apr – Dec 2016) and -N2.9bn alone in Q3 (Oct – Dec). In the nine-months of 2015, it recorded N2.2bn in profit.

Currency weakness, inflation push 7-Up to half-year loss

Soft drinks maker, 7-Up Bottling Company said on Monday that currency weakness related to the recent Naira devaluation led to higher cost of goods sold and higher selling and distribution expenses, resulting in a half-year loss . The bottler of Pepsi-Cola declared a net loss of N1.6bn.

Seven-Up said that sales grew 19% to N47bn despite the macroeconomic challenges. In the previous year, revenue was N40bn. However, a 26% jump in cost of sales to N38bn, from N28bn plus a 26% rise in selling and distribution expenses all weighed on the soft drink maker’s earnings.

7-UP profits drop 48% in Q1 amid headwinds

7-UP Bottling Company on Friday reported a 48% slump in profits for the first quarter of 2016. Net income fell to N1bn, down from N2bn reported a year earlier.

The maker of Pepsi-Cola, Mirinda, Aquafina bottled water, among others was weighed by currency-driven headwinds, coupled with rising inflation and competition from other soft drinks manufacturers.