Food and beverage giant, Cadbury Nigeria Plc, has released its audited financial statement for full-year December 2019. The results released indicated some slight improvement in most of its performance indicators as it recorded a 26% increase in profit.
In a notification, which was sent to the Nigerian Stock Exchange and seen by Nairametrics, the company recorded a revenue of N39.3 billion as at December 31, 2019, as against the N35.9 billion, which was achieved in the corresponding period for 2018. This represents a 9% increase.
The gross profit for full-year 2019 was N8.32 billion as against the N7.95 billion which was achieved in the corresponding period for 2018. This represents a 5% increase.
The profit before tax for the multinational as of December 31, 2019, was N1.54 billion. This is against the N1.7 billion, which was achieved in December 2018 and represents a 26% increase.
Also, the profit after tax for December 31, 2019, was N1.07 billion as against the N823 million which was achieved for the corresponding period in 2018. This represents a 30% increase.
However, from the released audited financial statement, Cadbury, witnessed a drop in its expenses as its cost of sales dropped by about 10.6%. The cost of sales for full-year 2019 was N31 billion as against the N28.02 billion which was achieved in the corresponding period for 2018. This indicates a more efficient application and management of resources by the company.
Cadbury Nigeria Plc is a food, sweets and drink company with headquarters in Lagos, Nigeria. The company set up its manufacturing plant in Nigeria in 1965 and became publicly quoted on the Nigerian Stock Exchange in 1976. It has Mondelez International as its majority shareholder and competes with brands like Nestle, GlaxoSmithKline and Promasidor.
Some of its major brands include Bournvita, TomTom, Trebor and Peppermint, Eclairs and so on.
You can download the report here.