SEVEN-UP BOTTLING COMPANY PLC – Audited Financial Result for the Year Ended 31st March, 2017
Revenue: 26% increase from N85.6bn to N108.3bn
Profit/(Loss) after Tax: 422% decrease from N3.3bn to (N10.8bn) (FY 2017 EPS, -1,682 kobo; FY 2016 EPS, 523 kobo)
Proposed Dividend: 2017: Nil (2016: 160 kobo)
Joint Venture with DMK Group
Chellarams Plc has announced the signing of a joint venture (JV) agreement with German-based dairy company, DMK Group, to establish a new company, Chellarams DMK Ltd., to manage the production, marketing, sales and distribution of a full range of dairy products across Nigeria. The brands of the new company will include Oldenburger, Real Milk and Regal Milk.
Late Submission of Audited Accounts
Due to the need to conclude the JV agreement, the Exchange has approved an extension of time for the Company to file its audited financial result for the year ended 31st March, 2017 to 31st July, 2017.