Cadbury Nigeria Plc has released its financial results for the period ended 30th September 2015 with 10 per cent revenue depreciation to N21.1 billion from N23.3 billion achieved in the prior period of 2014.
Profit before tax fell 98 per cent to N40.8 million from N2.4 billion in the prior period while Profit after tax similarly dropped 98 per cent to N28.5 million from N1.7 billion.
Total assets similarly grew by 2.1 per cent to N648.5 million from N635.2 million while total liabilities decreased by 9 per cent to N224.4 million from N246.1 million in the periods under review.
Basic and diluted earnings per share also decreased 98 per cent to 2 kobo from 88 kobo.
The company’s share value dropped 0.1 kobo or 0.45 per cent in its last trading session to close at N22 per share. The company has market capitalization of N41.3 billion and 1.9 billion shares outstanding.
Cadbury is scheduled to commission its new plant that is project to raise capacity by 37 per cent on Friday in Lagos.
By Pita Ochai