- Cadbury Plc released its 2015 Half year results showing losses ballooned to about N250million.
- The Chocolate and Beverage company has been facing revenue decline in the last 4 quarters and can’t seem to stop the slide.
- However, the company posts profit after tax of N53million for the second quarter of the year compared to a loss of N304 million in the first quarter of the year.
- The profit after tax of N53million is a 95% drop in profits when compared to the N1 billion posted same quarter last year.
- Q2 is also typically the best quarter for Cadbury as such this result suggest a bad year already for the company.
- The profit recorded this quarter was also not enough to offset the loss of Q1 throwing the company into a N250 million loss.
|2015 Results||Q1||Q2||%age Change|
|Cost of sales||(5,041)||(4,973)||-1.3%|
|Net Finance Income||30||33||9.9%|
|Profit Before Tax||(304)||53||-675.9%|
|Profit after Tax||(304)||53||-675.9%|
|Effective Tax Rate||0%||0%|
|Gross Profit Margin||25.1%||32.9%||-23.54%|
|Operating Profit Margin||-5.0%||0.1%||-3926.82%|
|SGA as a %age of Gross Profit||120.0%||99.6%||20.43%|
|Interest Cost as a percentage of Operating Profit||9.0%||-344.3%|