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Seven-up Bottling fiscal Q3 profit climbs 11.7% YOY

Seven-up Bottling Co. PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 1.62 billion nairas, a rise of 11.7% from 1.45 billion nairas in the prior-year period.

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

The normalized profit margin rose to 7.5% from 6.9% in the year-earlier period.

Total revenue increased year over year to 21.69 billion nairas from 21.13 billion nairas, and total operating expenses decreased on an annual basis to 18.16 billion nairas from 18.38 billion nairas.

Reported net income came to 2.06 billion nairas, compared with 1.76 billion nairas in the year-earlier period.

As of Jan. 29, US$1 was equivalent to 188.95 nairas.