Cadbury Nigeria Plc posts shocking 75% drop in profits but still propose dividends

Revenue

• Cadbury Nigeria Plc reported a 15% drop in revenues to N30.5billion compared to N35.7billion reported in 2013.

Profitability

• Pre-tax profits dropped a whopping 80% to N1.4billion compared to the N7.4billion reported same period in 2013.
• The huge drop in pre-tax profits was in part due to a drop in Finance Income which dropped 81% to N331million (2013: N1.7billion).
• The drop in revenues also contributed significantly to the drop in pre-tax profits. Profit after tax subsequently dropped 75% to N1.5billion compared to N6billion reported a year earlier.

Shareholders

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• Earnings per share attributable to shareholders dropped 61% to N75kobo compared to the N1.92 reported a year earlier.
• Cadbury proposed a dividend of 65 kobo per share and will be payable to shareholders who are in the register on or before May 11 to 15th 2015.
• Dividend will be paid in June 2015.