Cadbury Nig Plc released its Q4 Unaudited Financial Statement, revealing a 28.23% growth in revenue from N9.61 billion to N12 billion in the current period. The company reported a loss after tax of N682.87 million from a loss position of N681.72 million in the corresponding period of 2020.
In 2021 FY, while revenue recorded growth in domestic sales which stood at N40.27 billion, export sales to other parts of Africa and Europe, recorded a decline which could be attributed to supply chain disruptions in the global market due to covid.
The Company has three reportable business segments which are Refreshment Beverages, Confectionery and, Intermediate Cocoa products. Refreshment beverages generated N28.01 billion, Confectionery generated N12.56 billion and Intermediate Cocoa products generated the least revenue of N1.80 billion.
Key highlights of the report
- The sale of by-products and gains on disposal of PPE weighed down Other Income, declining significantly y-o-y by 99.86% and 99.38%, respectively.
- Selling and Distribution expenses surged 10.19% growing from N4.58 billion a year earlier to N5.04 billion suggesting aggressive marketing and distribution was a contributor to the driver of sales.
- Interest income on bank deposits generated N856 million during the period.
- Net profit for the period was supported by a 21.74% decline in administrative expenses, from the prior-year period, supporting the growth in net profit for the period.
- Income tax expense as well amounted to approximately N355 million in the period under review, as contained in the financial statement.
- In 2021 FY, net profit depreciated by 4.33% from N931.83 million to N830.48 million.
- The company’s net assets increased by N492.40 million from N13.55 billion recorded as at December 2021 to N14.04 billion in the period under review. However, Total assets stood at N43.68 billion.
- Cadbury Nig Plc is currently trading at N8.70 per share and its market capitalization stands at N16.34 billion as at Friday, January 28, 2021. Year-to-date performance shows that the share price of the company has declined by 1.14%.
