Market Watch: Union Bank, Cadbury post falls in half-year profit

Union Bank Plc said on Friday its half-year pretax profit fell to N6.46 billion ($39.9 million), down 34 percent from N9.8 billion a year ago.

Gross earnings also fell 11.69 percent to 49.59 billion naira during the six months to June 30.

Cadbury’s H1 falls 50 %

Cadbury Nigeria’s half-year pretax profit fell to N1.79 billion ($11.1 million), down 50 percent from N3.58 billion in the same period last year.

Turnover decreased by 12.1 percent to N15.32 billion during the six months to June 30.