Cadbury Nigeria Plc announces N562 million loss for 2016

Cadbury Nigeria Plc reported a loss before tax of N562.9 million for the 2016 financial year, documents filed to the Nigerian Stock Exchange, NSE, have shown.

Analysis of the figures showed that the loss represents a 136 per cent drop compared to 2015 performance, when it reported a profit of N1.58 billion.

Further checks revealed that the company’s revenue for 2016 stood at N29.9 billion, as against N27.8 billion posted last year.

Similarly, the company’s gross profit for 2016 dropped by 23 per cent to close at N6.8 billion compared to N8.9 billion posted in 2015.

The food and beverage production outfit, for the nine months and third quarter ended September 2016 result of the company, posted a loss after tax of N842 15m from a profit of N28.55m recorded in September 2015.

Loss before profit in the third quarter of 2016 was N842.15m from a profit of N40.78m reported in third quater of 2015.

Also, the revenue of the company dropped 1.19 per cent to N21.32 billion in the nine-month period of 2016 from N21.07 billion in the corresponding period of 2015.