Seven-Up Gives One for Four Bonus To Shareholders
By Gbenga Agbana
 23rd NOV 2006

Following an increase of 22 per cent in the after-tax profit of Seven-Up Bottling Company Plc from N954 million in the financial year ended March 31, 2005 to N1.16 billion in the current financial year, the board of directors on Tuesday paid a dividend of 125 kobo per share to shareholders at the yearly general meeting.

In addition to the dividend, the company's Chairman, Mr. Faysal El-Khalil, also announced a bonus share of one for every four ordinary shares, which was approved unanimously by the shareholders alongside an increase in the company's authorised share capital from N205 million to N260 million.

The company also recorded a turnover in excess of N22 billion. The figure represents a 27 per cent increase over the previous year's figure of N17.34 billion.

El-Khalil said the impressive results were achieved "through the various cost control measures exercised by the company in improving production yields, energy conservation and plant efficiencies and by closely monitoring operating expenses."

In addition, the chairman said that the launch of Mountain Dew, a new brand in the stable of Seven-Up and the commissioning of a state-of-the-art production plant in Abuja have helped the company increase volume sales.

Responding to the call by shareholders that Seven-Up enters the potable drinking water segment of the market, El-Khalil said that the company will take up the challenge next year as it has been doing lots of research and development in that area and assured that Seven-Up water will be the best when it enters the Nigerian market next year. The shareholders also commended the launch of Mountain Dew into the market, which has become consumers' delight within 12 months of its launch.

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