Cadbury Nigeria Plc Posts 20% PAT Decline in HY-2020 M
Cadbury Nigeria Plc. HY’2020 results showed that revenue declined by 18.18% from N19.45 bn in HY’2019 to N15.92 bn in the current period. This decline was due to the slowdown witnessed in domestic sales, as their performance was hampered by the weakened purchasing power of consumers in the economy. Consequently,
gross profit fell by 20.12% to N3.31 bn in HY’2020 from N4.14 bn in HY’2019.
Similarly, the firm recorded a decline of 19.59% in operating profit from N888.78 mn in HY’2019 to N714.70 mn in the current period.
Profit before tax fell by 19.89% to N766.66 mn in the current period from N957.06 mn in HY’2019, due a 23.90% decrease in net finance income. Profit after tax declined by 19.89% from N669.94 mn in HY’2019 to N536.66 mn in the current period. Earnings per share dipped by 19.44%, from N0.36 in HY’2019 to N0.29 in the current period. Cadbury currently trades at N7.25.
