Seven Up posts 313% increase in loss for six months

Seven Up

Seven up bottling company plc recorded 313% increase in losses to NGN6.5 billion in its financial report for the half quarter of the year compared to NGN1.5 billion recorded same period in the financial year 2016.

The company ended the period with NGN53.3 billion revenue in contrast to NGN46.9 billion posted in the previous year while gross profit lowered to NGN8.4 billion from NGN8.8 billion recorded in the year 2016.

Operating loss for the period grew to NGN2.6 billion from NGN76.1 million posted in the fiscal year 2016.

Seven up bottling company declared NGN81.1 billion total assets for the half year compared to NGN79.2 billion posted for the year 2016 while total liabilities was NGN74.1 billion against NGN57.0 billion in the year before.