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.
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.