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UPDATE 1-Nigerian coke franchise's Q1 net profit dips 9 pct

Thu Jun 25, 2009 10:48am EDT

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LAGOS, June 25 (Reuters) - Coca Cola franchise Nigerian Bottling Company NBOT.LG reported a 9.45 percent fall year-on-year in net first-quarter profit to 1.05 billion naira ($7.2 million), the Nigerian Stock Exchange (NSE) said on Thursday.

But the company sees its second-quarter net profit rising 43 percent quarter-on-quarter to 1.50 billion naira, its interim financial statement to the NSE showed.

Nigerian Bottling Company's first-quarter gross earnings, which climbed about 20 percent year-on-year to 23.19 billion naira, are expected to jump to 45.27 billion naira in the second quarter, the statement said.

It said net assets were down to 22.91 billion naira from 23.97 billion in the first quarter of 2008, but fixed assets rose 7.2 percent to 35.44 billion. (Reporting by Tume Ahemba; Editing by Randy Fabi and Dan Lalor) ($1 = 146.76 naira)

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