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Seven Up Plc released its 2015 Q1 to June results showing pre-tax profits dropped 9.5% to N1.9billion (2014 Q1 N2.1billion.
The soft drink company’s profits was hurt mostly by a 14% increase in cost of sales which chopped 67% of revenue this quarter compared to 64% a year ago. Finance cost also rose 61% to N760m.
See summary of results below;
| Seven Up | |||
| First Quarter to June 2015 | 2015 Q1 | 2014 Q1 | %age Change |
| N’m | N’m | ||
| Income Statement | |||
| Revenue | 23,148 | 21,033 | 10.1% |
| Cost of sales | (15,396) | (13,401) | 14.9% |
| Gross Profit | 7,752 | 7,632 | 1.6% |
| Operating Expenses | (4,558) | (4,481) | 1.7% |
| Operating Profit | 3,194 | 3,152 | 1.4% |
| Other Income | 13 | 25 | -45.5% |
| Finance Cost | (760) | (471) | 61.3% |
| Profit Before Tax | 2,448 | 2,705 | -9.5% |
| Taxation | (490) | (541) | -9.5% |
| Comprehensive Income | – | ||
| Profit after Tax | 1,958 | 2,164 | -9.5% |
| Balance Sheet Highlights | 2015 Q1 June | 2015 FY (MARCH) | |
| Overdraft & Short-term loans | 15,515 | 15,653 | -1% |
| Long Term Loans | 4,383 | 4,433 | -1% |
| Trade & Other Receivables | 5,268 | 4,422 | 19% |
| Trade & Other Payables | 13,114 | 15,431 | -15% |
| Working Capital | (7,449) | (20,769) | -64% |
| Inventories | 14,114 | 9,568 | 48% |
| Total Assets | 67,519 | 67,687 | 0% |
| Net Assets | 25,892 | 23,934 | 8% |
| Retained Earnings | 25,273 | 23,314 | 8% |
| Cash & Cash Equivalents | 3,186 | 8,523 | -63% |
| Net Cash flow from operations | (2,442) | 17,134 | -114% |
| Cash Invested | (1,941) | (14,364) | -86% |
| Indices | |||
| Eps (N) | 3.1 | 3.4 | -10% |
| Outstanding Shares | 641 | 641 | |
| Net Asset Per Share | 40 | 37 | 8% |
| Debt To Equity | 77% | 84% | -8% |
| Gross Profit Margin | 33% | 36% | -8% |
| Operating Profit Margin | 14% | 15% | -8% |
| Profit Margin | 8% | 10% | -18% |
| SGA as a %age of Gross Profit | 59% | 59% | 0% |
| Interest Cost as a percentage of Operating Profit | 24% | 15% | 59% |
| Asset Turnover % | 34% | ||
| Return on Equity | 8% | ||
| Return on Asset | 5% | ||
| ROA Factor | 248% | ||
| Inventory Turnover | 130% | ||
| Net Asset Turnover | 93% | ||
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