Cadbury Nigeria Profit Plunges by 84 Percent in 2020

Cadbury Nigeria Plc profit after tax plunged by 84 percent in the 2020 financial year to N172.665 million, down from N1.071 billion in 2019, according to the unaudited financial statements of the company.

The company revenue declined by 10 percent from N39.327 billion filed in 2019 to N35.407 billion in 2020.

Cost of sales improved by 4 percent from N31 billion in 2019 to N29.640 billion in 2020.

Cadbury’s results from operating activities declined by 91 percent from N1.354 billion in 2019 to N119.223 million in 2020.

Cadbury Nigeria Key Financial Highlights for 2020

• Profit before tax decreased by 84 percent from N1.539 billion achieved in 2019 to N246.665 million 2020.
• Profit for the year also contracted by 84 percent from N1.071 billion in 2019 to N172.665 million.
• Share capital remained unchanged at N939.101 million.
• Total equity declined by 5 percent to N12.877 billion in 2020 from N13.566 billion in 2019 year-on-year.
• Basic earnings per share also plunged by 84 percent from 57.01 to 9.19 per share.