Tag Archives: Seven-UP Bottling Company Plc

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.

Soft drinks probe: House panel accuses NAFDAC of compromise and failure to perform duty

The House of Representatives ad hoc committee investigating the production and distribution of soft drinks manufactured by the Nigerian Bottling Company (NBC) and other soft drinks producers in the country accused the National Agency for Food and Drug Administration and Control (NAFDAC) of compromise and failing in its duties to live up to its responsibility.

NECA asks members to decline invitation to Public hearing on soft drinks

The Director General, Nigeria Employers’ Consultative Association (NECA), Mr. Olusegun Oshinowo, has asked its members to decline an invitation by the Federal House of Representatives ad-hoc Committee investigating the production and distribution of soft drinks manufactured by the Nigerian Bottling Company Limited (NBC) and other drinks produced or marketed in Nigeria.

House panel pledges to continue soft drinks probe

Majority Leader of the Federal House of Representatives, Hon. Femi Gbajabiamila, has said that the National Assembly has power to carry out an investigation into a matter involving privately-run companies.

Speaking as the chairman of the House ad hoc Committee investigating the production and distribution of soft drinks manufactured by the Nigerian Bottling Company PLC (NBC), and other soft drinks sold in the country, Hon. Gbajabiamila stressed that it was equally erroneous to assume that the National Assembly would halt a probe because a party involved had taken the matter to court.

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.

CPC calls for review of levels of additives in soft drinks

The Consumer Protection Council (CPC) on Tuesday released its results of findings on the level of benzoic acid and sunset yellow found in Fanta and Sprite as well as other soft drink brands bottled in the country.

The Council said it was compelled to launch an investigation following the public outcry after a Lagos High Court ruled in the case of Fijabi Adebo and his firm Fijabi Adebo Holdings Limited against the National Agency for Food and Drug Administration and Control (NAFDAC) and the Nigerian Bottling Company (NBC).

Seven-Up Bottling Company appoints Ziad Maalouf Managing Director

Seven-Up Bottling Company Plc has appointed Mr. Ziad Maalouf as the new Managing Director of the 57 year old company.

Up until his recent appointment, he was the company’s Chief Operating Officer and had joined the company in 2008 as it’s National Sales and Distribution Manager.

Mr. Maalouf has over 20 years work experience in corporate finance, organizational leadership and strategic management, among others. He holds a Bachelor’s Degree and a Master’s Degree in Business Administration from the American University of Beirut.

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.