Q2 2017 saw 7-UP Plc grow its revenue by 20% to N32bn, cost of sales spiked by 35% to N27bn resulting in a 25% dip in gross profit to N5bn. Operating expense was up by 26% translating to an operating loss of N670mn. Finance cost spiked by 85% to N1.8bn leading to a pre and after-tax loss of N2.5bn.
Balance sheet numbers were also unimpressive as total assets slipped by 4% to N84bn, while total liabilities dropped by 1% to N73bn, translating to a 19% drop in net assets to N11bn. Working capital remained negative. See details below.
| Income Statement | Q2 2017 | Q2 2016 | % Change |
| Revenue (mn) | 31,847 | 26,620 | 20% |
| Cost of Sales (mn) | 26,674 | 19,766 | 35% |
| Gross Profit (mn) | 5,173 | 6,854 | -25% |
| Operating expense (mn) | 5,891 | 4,673 | 26% |
| Operating Profit (mn) | (670) | 2,226 | -130% |
| Finance Cost (mn) | 1,780 | 961 | 85% |
| PBT (mn) | (2,450) | 1,265 | -294% |
| IncomeTax Credit/Expense (mn) | - | 490 | -100% |
| PAT (mn) | (2,450) | 776 | -416% |
| Balance Sheet | H1 2017 | FY 2016 | % Change |
| Fixed Assets (mn) | 39,774 | 40,340 | -1% |
| Total Assets (mn) | 83,692 | 87,097 | -4% |
| Cash & Bank Balances | 6,132 | 6,010 | 2.0% |
| Borrowings (mn) | 40,983 | 43,097 | -4.9% |
| Total Liabilities (mn) | 72,917 | 73,871 | -1% |
| Net Assets (mn) | 10,775 | 13,226 | -19% |
| Working Capital (mn) | (13,626) | (10,436) | 31% |
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