2020: Cadbury Nigeria Posts N638.9m Profit in First Quarter

By UDO ONYEKA

Cadbury Nigeria Plc has announced its unaudited financial report for the first quarter period ended March 31st, 2020.

Accordions to the financial statement which was published on the Nigerian Stock Exchange’s website, the Beverages making firm’s profit for the period rose by 26 per cent.

Cadbury earned total revenue of N8.5 billion, marking an 8% decline from from N9.2 billion that was recorded for the comparable Q1 period of 2019. The cost of sales for the period however reduced by 9 per cent to N6.2 billion as against N6.9 billion in Q1 2019.

The company’s profit before tax jumped by 26 per cent to N912.7 million compared to N723.9 million in Q1 2019.

The Company’s profit after tax for the first quarter of 2020 equally rose by 26 per cent to N638.9 million . Profit after tax in Q1 2019 stood at N506.7 million.

Meanwhile, basic earnings per share for Q1 2020 increased by N34.02 from N26.98, also indicating a 26 per cent jump.

Cadbury Nigeria’s share price ended Tuesday’s trading on the Nigerian Stock Exchange at N6.30.