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Home Spotlight

[Results] Higher Costs Chops off 7up Margins

Nairametrics by Nairametrics
July 30, 2015
in Spotlight
[Results] Higher Costs Chops off 7up Margins
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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;

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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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