Cadbury Nigeria Profit Declines by 20% in H1, 2020

Cadbury Nigeria Plc on Thursday reported an 18 percent decline in revenue generated for the first half of the year when compared to the same period of 2019.

In the unaudited financial statement released through the Nigerian Stock Exchange, the company’s revenue stood at N15.917 million in the first half of the year, down from the N19.455 reported in the corresponding period of 2019.

Cost of sales, however, improved by 18 percent from N15.313 million in H1, 2019 to N12.609 million in H1 2020. While results from operating activities showed a decline of 20 percent to N714.698 million, down from N888.776 million filed in the same period of 2019.

Cadbury’s profit before tax also declined by 20 percent from N957.055 million in H1 2019 to N766.657 in H1 2020.

This decline continues as profit after tax dropped by 20 percent to N536.660 million, down from N669.938 million in H1 2019.

Share capital remained unchanged at N939.101 million.

While the company’s total equity expanded by 2 percent to N13.191 million, up from N12.895 million reported in H1 2019.