Daily Archives: March 22, 2017

Year ends with loss for Cadbury Nigeria

Cadbury Nigeria Plc, the Bournvita maker on Tuesday reported its full year results for the 2016 financial year, ending the year with a net loss of N296m, compared to N1.2bn profit in 2015.

The company which has been experiencing declining sales and low profitability in the last few years said that revenue grew 8% in the year ended to nearly N30bn. In 2015, the company recorded N28bn in sales. The sales growth in addition to a tax credit of N266m helped narrow the company’s losses from N842m in the 9-months to December.