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Cadbury Nigeria reports N638.9 million profit for Q1 2020

Emmanuel Abara BensonbyEmmanuel Abara Benson
3 years ago
in Business News, Company News, Company Results
Cost pressure dampens earnings growth outlook, Cadbury releases FY result for 2019, grows profit by 26%, Cadbury makes some board changes

Oyeyimika Adeboye, Cadbury Nigeria MD

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Cadbury Nigeria Plc has released its unaudited financial statement for the first quarter period ended March 31st, 2020. According to the interim financial statement which was published on the Nigerian Stock Exchange’s website, the consumer goods maker’s profit for the period rose by 26%. See the key highlights below.

Revenue for the quarter: Cadbury earned total revenue of N8.5 billion, marking an 8% decline from from N9.2 billion that was recorded for the comparable Q1 period of 2019. The cost of sales for the period however reduced by 9% to N6.2 billion as against N6.9 billion in Q1 2019.

Profit before Tax: The company’s profit before tax jumped by 26% to N912.7 million compared to N723.9 million in Q1 2019.

READ MORE: KPMG calls for review of tax, other measures in line with COVID-19 reality

Profit after Tax: The Bournvita maker’s profit after tax for the first quarter of 2020 equally rose by 26% to N638.9. Profit after tax in Q1 2019 stood at N506.7 million.

Meanwhile, basic earnings per share for Q1 2020 increased by N34.02 from N26.98, also indicating a 26% jump. Cadbury Nigeria’s share price ended Tuesday’s trading on the Nigerian Stock Exchange at N6.30.

READ ALSO: Sovereign Trust Insurance blames IT failure for delaying its 2019 financial statement

You may download the unaudited Q1 report by clicking here.

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Tags: 2020 Q1 ResultsBusiness news in NigeriaCadbury Nigeria PlcCadbury Nigeria Q1 2020 resultCompany Financial ResultsNigerian Stock ExchangeNigerian Stock Exchange (NSE)Profit Before Tax

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