Cadbury Nigeria has declared a net profit growth of 174 per cent in its audited financials for the year ended December 31, 2018.
The company’s results on the Nigerian Stock Exchange (NSE) showed that profit after tax went up to N823.09 million from N300 million in 2017. Also, profit before tax stood at N1.22 billion, which represented 249.06 per cent growth from N350.32 million, while earnings per share appreciated 174.36 per cent to 44 kobo as against 16 kobo achieved in the corresponding period of 2017.
Also, the directors of the company proposed a 25 kobo dividend per share, an increase of 56.25 per cent from 16 kobo per share declared in 2017.
Revenue up by 8.75 per cent up from N33.08 billion in 2017, to N35.97 billion in the year under review. Cost of sales rose to N28.02 billion from N25.64 billion, representing a 9.25 per cent growth, following which gross profit stood at N7.96 billion from N7.44 billion.
Other income for the period took a 79.67 per cent plunge from N99.34 million to N20.19 million. Selling and Distribution expenses stood at N4.71 billion from N5.23 billion, administrative expenses was flat at N1.57 billion from N1.59 billion, while operating profit up by 138.74 per cent to N1.698 billion, compared with the N711.37 million reported in the corresponding period of 2017.