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.
