SevenUp suffered NGN10.7 billion loss for year end March


SevenUp Bottling Company PLC has just declared a huge loss for the year ended March 2017.

Total loss for loss for the period was NGN10.7 billion against NGN3.3 billion profit reported in the fiscal year 2016.

Total revenue for the period rose by 26% to NGN108.3 billion compared to NGN85.6 billion recorded in the same period 2016.

Its costs of sales for the period was NGN95.3 billion compared to NGN60.6 billion recorded in the previous year.

The company said its gross profit was NGN12.5 billion against NGN25.0 billion posted in the year before. While its operating loss for the period was NGN7.5 billion against NGN6.2 billion recorded in 2016.

SevenUp Bottling Company PLC recorded NGN 11.2 billion loss before tax in the period under review against NGN3.7 billion profit recorded in the year before.

Total asset was NGN87.0 billion in contrast to NGN67.7 billion reported in the previous year. The company’s total liabilities was NGN73.8 billion versus NGN43.0 billion reported in 2016.

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