Cadbury Nigeria’s Q1 revenue rise 6%
Cadbury Nigeria Plc, makers of Bournvita, said revenue for the first quarter (Q1 2016) rose 6% to N7.1bn, from N6.7bn a year earlier.
The chocolate drinks maker has done a remarkable job turning around its loss making business for the better in the last year. Cadbury’s pre-tax profit rose 329% to N694 million, from a N304 million loss it incurred in the first quarter of 2015.
The company had taken a series of bold steps to emerge from the difficulties it found itself a year ago. In October 2015, Cadbury unveiled a new manufacturing plant it built to boost production of its famous Bournvita, at a cost of N10bn. In the same month, it partnered with Indomie noodles maker, Tolaram Group to launch a 3-month promo campaign of value packed Bournvita and Indomie noodles.
In April 2016, Cadbury re-launched its flagship Bournvita in a newly re-designed packaging, which the company said contains improved nutritional content (creamier with increased quantities of cocoa and milk).
Cadbury’s profit after tax climbed 322% to N673m in the first quarter. The company posted N304m loss in the same period in 2015.
According to the company, its products are grouped into three principal categories – Refreshment Beverages, which contributed 60% of revenue in 2015 and includes Cadbury Bournvita and Cadbury 3-in-1 Hot Chocolate; Tom Tom confectionery is another category, which contributed 32% of sales; while Intermediate cocoa products, consisting of Cocoa powder, Cocoa cake and cocoa Butter contributed 8% of sales.