Seven-Up Bottling Company Plc, on Friday, 29th January 2016, released its third quarter (Oct – Dec 2015) financial results, with profit after tax declining by 80.1% to N410 million, from N2bn recorded in the same period in 2014.

Pretax profit also fell by 80.21% to N513 million, from N2.6bn in the same period in 2014.

Other worthy mentions from the report show a 4.75% decrease in sales revenue, from N21.6bn in 2014 to N20.7bn in the current period under review. Cost of sales climbed 10.13% to N14.5bn, from N13.1bn in 2014. Gross Profit fell 27.67% due to a high cost of sales.

Selling, distribution and administrative expenses fell 2.5%. It meant that the company managed distribution and administrative costs effectively.

The company’s finance cost decreased 4.22% from the previous period to N899 million, from N939 million.

When compared on a 6-months basis (Apr – Dec 2015), the company’s net profit declined by 51% to N2.2bn, from N4.5bn. Revenue grew less than one per cent (0.66%) to N60bn, from N58.8bn. Cost of sales increased by 13.39% to N42bn, from N37.1bn.

Seven-Up bottles, markets and distributes 7Up, Pepsi, Mountain Dew, Teem, Mirinda and Aquafina brands.