Cadbury Nigeria Plc has released its Un-audited Interim Financial Information for the Half Year Ended June 30, 2019. The company reported 11% growth in its revenue from January to June 2019.
In the Un-audited Interim Financial report, the company disclosed N19.4 billion was made in the period under review compared to the N17.5 billion grossed in the corresponding period last year, 2018.
However, Cadbury Nigeria recorded loss in its Profit Before Tax, as it grew by 326% to climb N957 million from the N423 billion that was reported during the same period last year.
The company’s cost of sales also increased by 4% from N14.7 billion in the corresponding period last year (2018) to N15.3 billion, the 2019 Half-Year Un-audited Interim Financial report showed.
Cadbury hit with trademark lawsuit
OK Foods Limited has slammed Cadbury UK Limited (the parent company of Cadbury Nigeria Plc) with a N260 million lawsuit, following Cadbury‘s constant claims of trademark violation by the plaintiff.
According to the suit, the plaintiff is contesting Cadbury UK Limited’s claim that the generic trade dress, colours, and shapes used in the production of TomTom candy sweet, are also used by OK Food Limited in the production of its own candy sweet – Top Mint.
Joining in the suit as codefendants are the Nigerian subsidiary of Cadbury UK Limited (i.e., Cadbury Nigeria Plc) and Registrar of Trademarks.
More Details: According to the counsel to OK Food Limited, Peter Shobiye, the company applied for the registration of the trademark Top Mint on April 15, 2005 and was issued the certificate of Trade Mark RTM 73440 by the Registrar of Trademarks. For over thirteen years, the Top Mint brand has existed in Nigeria.
Cadbury plans more wealth for shareholders
Cadbury Nigeria Plc has promised its shareholders that it will not relent in its effort to create more wealth and maintain its current dividend policy.
Cadbury’s Chairman, Mr. Atedo Peterside, who stated this during the company’s 54th Annual General Meeting (AGM), in Lagos, added that the company had a good business year in 2018. According to him, this was a result of the company’s cost-cutting measures, effective marketing strategy, as well as the positive performance of its various brands.
[READ FURTHER: Cadbury highlights plans to create more wealth for shareholders]