Connect with us
Advertisement
Oando
Advertisement
Alpha
Advertisement
Hotflex
Advertisement
Binance
Advertisement
Advertisement
UBA
Advertisement
Patricia
Advertisement
Access bank
Advertisement
app

Business News

Cadbury Nigeria grows revenue by 11% in 2019 Half Year

Cadbury Nigeria Plc has released its Un-audited Interim Financial Information for the Half Year Ended 30 June 2019. Cadbury Nigeria reported 11% growth in its revenue from January to June 2019.

Published

on

Cadbury Nigeria Un-audited Interim Financial Information, OK Foods Limited has sued Cadbury UK Limited

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.

[READ ALSO: Sankore Investments to fund student housing, agric business in Lagos and other areas]

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.

Image result for Cadbury Nigeria

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.

[READ ALSO: NSE ends week positively, as Abbey Mortgage Bank makes gainers’ list]

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]

Jaiz bank

Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ). In the era of media convergence, Olalekan is a valuable asset, with ability to curate and broadcast news. His zeal to write was developed out of passion to shape people’s thought and opinion; serving as a guideline for their daily lives. Contact for tips: [email protected]

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Corporate Press Releases

Applications across Nigeria, South Africa and Kenya now open for the 2021 Facebook Community Accelerator Program

The selected leaders will spend five months learning from experts, coaches and a customised curriculum so they can strengthen their community.

Published

on

Facebook

Today, Facebook is inviting community leaders from Nigeria, South Africa and Kenya to apply for the 2021 Facebook Community Accelerator Program—a program that offers participants training, mentorship and up to $50,000 USD in funds to invest in an initiative that extends their community’s positive impact.

The aim of the Community Accelerator is to help leaders of Facebook communities to harness the power of their community to turn ideas into action. The selected leaders will spend five months learning from experts, coaches and a customised curriculum so they can strengthen their community.

Lessons include community identity foundations, leading action-oriented programmes and sustainability. Participants will also receive early access to new Facebook products aimed at helping communities better manage and activate their members.

Plan an initiative

Participants will identify an important initiative that will create a positive impact on the broader world and develop a plan to mobilise their community around their goal. Initiatives will be shared with potential partners, mentors and a panel of judges for the chance to be awarded funding and receive public recognition.

Participants will then spend three months executing their initiatives. They will collaborate with advocates and leaders in the community space and work with the Facebook team to bring their ideas to life.

Says Kiran Yoliswa, Partner Management Lead, Middle East and Africa Community Partnerships at Facebook: “Facebook communities and their leaders are helping to resolve social challenges, sharing knowledge and information, while connecting with others that share their interests or passion for a cause. We’ve seen so many incredible communities from across South Africa, Kenya and Nigeria using our platform to drive change and provide support and encouragement for thousands of people, we’re excited to offer their Facebook Community leaders this program to help amplify their impact even more.”

How to apply

Hotflex

This program is open to communities that have a presence in Facebook Groups with leaders who are 18 years or older. Communities must have existed for over one year and must have a minimum size of 1,000 members. Applications open today, May 4 – 31, 2021.

The Community Accelerator is part of our Facebook Community Leadership Program, a global initiative that invests in people building communities. Learn more and apply here.

You can find out more about the 2020 Community Accelerator cohort and those who received additional funding here.

Continue Reading

Business News

NIN registration: 54 million Nigerians have now enrolled – Buhari

12 million Nigerians were enrolled into the National Identity Database in the past 6 months.

Published

on

Buhari approves free business name registration for 250,000 SMEs, IMF, tax, rate, Buhari’s Budget of Sustaining Growth & Job Creation (Full text), Nigeria generates N1.36 trillion from corporate tax, others as oil revenue drops , Nigeria-Algeria highway gets Buhari's approval , Earnings from rich petroleum resources not enough to cater for Nigeria – Buhari , Tax: Buhari appoints Muhammad Nami as FIRS boss, Subsidy economics

President Muhammadu Buhari disclosed that the FG has enrolled 54 million Nigerians into the National Identity Database, citing that 12 million were enrolled in the past 6 months alone and that the final aim of the scheme is to secure Nigeria’s security infrastructure.

President Buhari disclosed this in a statement on Thursday evening.

What the President said about NIN enrollment

“I am pleased with the success we are recording in the enrollment of persons into the National Identification Number (NIN) database. 54 million Nigerians have now enrolled; I am told over 12 million of these within the last six months. Our goal is total coverage.

The National Identification Number (NIN) is the foundational digital ID for the country. It will cover one of the weaknesses in our security structure. We will be able to easily identify all Nigerians, including the crooks in our midst.”

The President added that both legal residents and Nigerians are expected to obtain the NIN as it would be beneficial to government agencies to utilise resources efficiently.

In case you missed it

The Federal Government announced a further extension of the ongoing National Identification Number (NIN) registration and linkage with Subscriber Identity Module (SIM) exercises to a new deadline of June 30, 2021.

Continue Reading

  





Nairametrics | Company Earnings

Access our Live Feed portal for the latest company earnings as they drop.