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Home Business News

Cadbury Nigeria Plc: Decline in domestic and export sales depletes revenue

Adeyemi AdebayobyAdeyemi Adebayo
2 years ago
in Business News
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 reported revenues of N25.77 billion in 2020 9M, compared to N28.91 billion same period in 2019.

Key highlights for 2020 9M

  • Revenues decreased to N25.77 billion, -10.87% YoY.
  • Revenues from domestic sales decreased to N22.96 billion, -10.31% YoY.
  • Revenues from export sales decreased to N3.3 billion, -14.42% YoY.
  • Cost of sales decreased to N20.52 billion, -11.02% YoY.
  • Administrative expenses decreased to N935.98 million, -28.87% YoY.
  • Pre-tax profits increased significantly to N1.22 billion, +31.84% YoY.
  • Earnings Per Share increased to 45 kobo, +28.57% YoY.

Bottom Line

Cadbury Plc recorded decrease in its domestic and export revenues generating unit. Companies have generally recorded decreased revenues in the last three quarters mostly due to COVID-19. Cadbury’s revenues did not increase in the period under consideration. However, pre-tax profits surged, thanks to a reduction in the cost of sales and administrative expenses.

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