Tag Archives: Seven-UP Bottling Company Plc

Seven-Up post 53% profit decline in full-year amid worsening economic environment, competition

Seven-Up Bottling Company Plc, said on Wednesday that net income for the fiscal-year ending March 31 2016 fell 53% to N3.34bn, from N7.12bn a year earlier.

The poor performance of the soft drink maker is attributable to the worsening economic environment in the country – low oil revenue, currency headwinds, inflation of 15.6% as of May 2016 compared to 9.2% a year earlier, which is the last time the company posted higher profits. Insurgency and terrorism in different parts of the country, competitive pressure, among others also weighed on the company’s profits.