7UP records 27% profit decline in half year (H1) 2015
Seven-Up Bottling Company Plc on Friday, 30th October released its half year result ending 30th September 2015, with Profit After Tax (PAT) declining by 26.6% to N1.82bn, from N2.48bn recorded in the same period last year. Pretax profit also fell from N3.2bn to N2.3bn.
Other highlights of the result show a 3.74% rise in revenue from N38.1bn to N39.5bn. Cost of sales edged up by 15.1%, from N24bn to N27.6bn. Gross profit declined by 15.65% due to a higher cost of sales.
The company’s selling and distribution expenses declined by 25% while administrative expenses also fell by 13.87%, from N3.2bn to N2.8bn. It meant that the company manageed distribution and administrative cost effectively.
However, the company’s finance cost skyrocketed by 92.18%, from N862m to N1.66bn in the period under review.
Seven-up bottles, markets and distributes 7UP, Pepsi, Mountain Dew, Teem, Mirinda and Aquafina brands.