Cadbury Nigeria Grows Revenue by N950m in Q1 2017

April 25, 2017
Cadbury Nigeria

Cadbury Nigeria Grows Revenue by N950m in Q1 2017

By Modupe Gbadeyanka

Cadbury Nigeria Plc has recorded an increase in its revenue for the first quarter of 2017 by N950 million, Business Post reports.

In its unaudited financial statements, the company said its turnover grew to N8.1 billion as at March 31, 2017, from N7.12 billion it posted in the corresponding period of 2016. This was influenced by some measures taken by management of the firm.

Cadbury Nigeria is a subsidiary of Mondelz International Inc, an American multinational confectionery, food and beverage conglomerate.

In the results, the company recorded a profit after tax of N93 million, though a huge drop from what was achieved in the first quarter of last year, N673 million.

Also, its pre-tax profit suffered a magnificent loss, going down to N96 million in 2017 Q1 from N694 million it recorded a year earlier.

In the financial statements, Cadbury Nigeria said the value of its raw and packaging materials stood at N3.35 billion in the period under review versus N2.71 billion in the corresponding period of 2016, while its product in process stood was N128 million in March 2017 compared with N39 million in March 2016.

Also, value of its finished products stood at N1.91 billion against N1.81 billion it was 12 months ago, while value of its spare parts stood at N579 million in contrast to N388 million exactly a year ago and the goods in transit has the valuation of N106.5 million as at March 31, 2017, against N72.2 million in the corresponding period of 2016.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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