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.
AJEAST Nigeria Limited, a subsidiary of AJE Group, a Peruvian soft drink producer, with footprints in 20 countries and last year, was ranked 21 of all soft drink makers globally by Euromonitor, with sales of about $2bn, made its debut in Nigerian in October.
At the launch of the BIG Cola brand and its variants (Cola, Lemon, and Orange) at their production facility in Agbara Industrial Estate, Mr. Theo Williams, Country Manager for AJE said, “The focus is about consumers, AJE in Nigeria is to offer BIG for everybody, we are giving more for less. We want to ensure that consumers get something affordable that they can share with families and friends.
Seven-Up Bottling Plc’s year end results shows the company’s aggressive market penetration across various product lines as profit nudged up to 10.64 percent despite a hard biting economic environment that has seen stunted growth in consumer product firms in the country.
The company declared a profit of N7.12 billion for the year ended March 2015, compared with N6.43 billion, a year ago. Sales were up by 5.93 percent to N82.45 billion.
The growth in sales was attributed to the company’s aggressive penetration in the rural areas than urban Nigeria. This gave the company higher market leverage than newer fringe players competing with the products in the cities.
