After a disappointing 2016 result, which saw Cadbury plunge into a loss of N296.4million on the back of an economic recession, the food and beverage maker seems to have gained momentum. But even more impressive was how the numbers have surged in the last six years.
In its 2019 full-year unaudited result, Cadbury shrugged of a harsh operating environment coupled with a cash-strapped consumers to record a 9percent jump in revenue to N39.32bn from N35.97bn recorded in same period in 2018. It grew its profit before tax from N1.22bn in 2018 to N1.54bn in 2019. A trend analysis further shows that it grew its Profit Before Tax from a loss of N562.87million in 2016 to 360million in 2017.
While profit after tax turned from a loss of N296.4million in 2016 to a gain of N299million in 2017 which ballooned to N823million in 2018 and hitting the highest record in four years to N1.26bn. Although this is still way behind N6billion recorded in 2013.
Revenue from refreshment Beverages, which includes the manufacturing and sale of Bournvita and 3-in-1 Hot Chocolate stood at N23.15bn from N21.38bn in same period in 2018. Revenue from confectioneries which involves manufacturing and sale of Tom Tom, Buttermint and Clorets, was N11.48bn from N9.53bn and lastly revenue from Intermediate cocoa products, manufacturing and sale of cocoa powder, cocoa butter, cocoa liquor and cocoa cake dropped slightly to N4.68bn from N5.05bn
The company’s sales to countries outside of Nigeria mainly in Africa and Europe fell to N4.88bn from N4.93bn as the effect of border closure by the Nigerian government continues to bite harder on the consumer goods company.
Earnings per share (Basic), the portion of a company’s profit that is allocated to each outstanding share of common stock and an indication of the company’s health improved to 67kobo from 44kobo well behind 2014’s N1.06.
Selling and distribution expenses surged to N5.2bn from N4.70bn in 2018, while administrative expenses also increased from N1.57bn to N1.71bn.
