Nigeria’s 7up Bottling says Q1 pretax profit falls

Reuters

LAGOS (Reuters) - Nigeria’s 7up Bottling company reported a 9.6 percent drop in first quarter pretax profit to 2.44 billion naira ($12 million) versus the same period a year earlier. Gross earnings for the period from April to June however rose to 23.14 billion naira against 21.03 billion naira in the previous year, the company said in a statement, adding that cost of sales rose to 15.39 billion naira from 13.40 billion naira. ($1 = 198.9800 naira)