Cadbury declares N216.4m profit

Cadbury Nigeria Plc has recovered in its profitability, with a gain of N216.4 million in profit before tax in unaudited interim financial statement for the half year ended June 2016 from a loss of N250.7 million in the same prior of last year.

Drop in cost of sales and growth in fincome aided the consumer goods company resurgent in profit before tax.

In the half year of 2016, cost of sales dropped by 1.5 per cent to N9.9billion from N10 billion while finance income moved to N83.7 million, 31 per cent above N63.87 million recorded in H1 2015.

The multinational company revenue slumps by nearly two per cent to N13.9 billion from N14 billion, as domestic revenue fell by three per cent from N12.95 billion in H1 2015 to N12.57 billion in H1 2016.

Export revenue thus increased by 14 per cent from N1.2 billion to N1.3 billion in first half of  2016.  Cadbury Nigeria total assets rose by six per cent within six months from N28 billion to N30 billion while total equity inched up by 1.2 per cent from N12.3 billion to N12.4 billion as at December 31, 2016.