Seven Up Bottling company, bottlers of Pepsi, 7Up and other soft drinks has reported that it made a net loss of NGN2,5 billion for the third quarter of the year.
The company competes head to head with Nigerian Bottling Company’s CoCa-Cola. Total revenue for the period rose to NGN20,3 billion versus NGN16,4 billion record in 2015.
Increased in cost has led to a rise in selling distribution expenses to NGN3,0 billion compared to NGN1,8 billion
Apart from the economic downturn which has increased its cost of sales to NGN18,3 billion in the third quarter to from NGN12,2 billion; the result comes with a mix feeling as the company was seen by many analysts to have tried in competing with CocaCola across various value proposition.
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