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Seven-up Bottling fiscal Q1 profit climbs 49.9% YOY

Seven-up Bottling Co. PLC said its normalized net income for the fiscal first quarter ended June 30 came to 1.69 billion nairas, a rise of 49.9% from 1.13 billion nairas in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 8.0% from 6.3% in the year-earlier period.

Total revenue climbed 18.4% on an annual basis to 21.03 billion nairas from 17.77 billion nairas, and total operating expenses increased 14.7% on an annual basis to 17.86 billion nairas from 15.57 billion nairas.

Reported net income totaled 2.16 billion nairas, compared with 1.47 billion nairas in the year-earlier period.

As of July 30, US$1 was equivalent to 161.85 nairas.