Cadbury Nigeria Plc has released its unaudited financial report for the half-year (H1) ended June 30, 2019. The company impressed the market and investors with record growth seen across its key financial indicators.
The results shows revenue grew by 11percent to N19.45billion in H1’2019 from H1’2018 level of N17.55billion.
Cadbury Nigeria Plc manufactures and sells branded fast moving consumer goods to the Nigerian market and exports in West Africa.
Profit Before Tax (PBT) advanced by 326percent to N957.06million against Loss Before Tax (LBT) of N423.76million in H1’2018.
The company closed the review first-half of the year 2019 with record Profit After Tax (PAT) growth of 258percent to N669.93million compared with N423.76million Loss After Tax (LAT) in H1’18.
The Company produces intermediate products, such as cocoa butter, liquor, cake and powder. It exports cocoa butter, cake and liquor to international customers, and cocoa powder locally.
Cadbury Nigeria Plc operates through three segments: Refreshment Beverages, Confectionery and Intermediate Cocoa Products. The Refreshment Beverages segment includes the manufacture and sale of Bournvita and Hot Chocolate. The Confectionery segment includes the manufacture and sale of Tom Tom and Buttermint.
The Intermediate Cocoa Products segment includes the manufacture and sale of cocoa powder, cocoa butter, cocoa liquor and cocoa cake.
The Refreshment Beverages’ brands include Cadbury Bournvita and Cadbury 3-in-1 Hot Chocolate. The Confectionery’s brands include Tomtom Classic, Tomtom Strawberry and Buttermint. The Intermediate Cocoa Products’ brands include Cocoa Powder and Cocoa Butter.
The company’s shares listed on the Nigerian Stock Exchange (NSE) are currently outperforming the NSE All Share Index (ASI) –the benchmark performance indicator of the Nigerian Bourse.
While NSEASI is down by 11.35percent this year, Cadbury Nigeria Plc shares have increased by 8percent this year to N10.80kobo. The shares are off to a record 52-week high of N12.40 from a corresponding low of N9.
The results show Basic Earnings Per Share (EPS) growth of 258percent to 36kobo from 23kobo loss per share (LPS) recorded in the corresponding half-year period of 2018.
Iheanyi Nwachukwu
