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2014 Q1: Worrying Sings as Cadbury Post 31% Drop in Pre-Tax Profits

Nairametrics by Nairametrics
April 27, 2014
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2014 Q1: Worrying Sings as Cadbury Post 31% Drop in Pre-Tax Profits
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Cadbury Nigeria Plc released its 2014 Q1 results showing a 30% drop in earnings per share to 26kobo compared to 36kobo a year earlier. Highlights of the result are as follows;

  • Revenue dropped 17% to N6.9billion compared to N8.3billion a year earlier
  • It is also a 25% decline from the N9.2billion revenue earned in the last quarter of 2013
  • Gross profit was N2.8billion a 12% decline from the N3.2billion posted a year earlier
  • Operating expenses rose 2.7% to N2billion. However the drop in sales reduced operating profit margin to 12.2% compared to 14% a year earlier
  • Pre-tax profits was N1.1billion a 31% decline from the N1.6billion posted a year earlier. This was also very much lower (about 52%%) compared to the N2.1billion posted in the last quarter 0f 2013
  • Return on equity at the end of the period was 4.4% compared to 4.8% posted a year earlier
  • The reason for the decline in profitability is placed squarely on the drop in revenue.
  • I will update once information is obtained as to why revenue dropped that much

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