Tag Archives: Cadbury

Cadbury Nigeria slides to record N766m loss in half-year

Cadbury Nigeria Plc, the bournvita maker on Wednesday reported a half-year loss of N766m for the period ended June 30. In the same period a year ago, the company recorded a profit of N147m.

Despite growth in revenue of 16.9%, rising cost of sales which grew 33% in the period to N13bn, from N9.8bn, driven by inflation and higher foreign exchange rates had an adverse impact on gross profit, and on net finance cost, leaping 348% to N274m.

Cadbury Nigeria’s CEO urges manufacturers to innovate to survive

The Managing Director and Chief Executive Officer of Cadbury Nigeria Plc, has advised colleagues in the Fast Moving Consumer Goods sector (FMCGs) to adopt flexibility to survive in the current economic climate in Nigeria.

Speaking at the April ‘Members’ evening of the Institute of Directors in Lagos, he advised manufacturers to embrace innovation.

In his speech titled ‘Proffering Solutions to the Challenges of the FMCG/Manufacturing Sector of the Nigerian economy’, the MD emphasized that manufacturers should not be frustrated at the various challenges facing them. Instead, they should be flexible to adopt new ways of doing things in the current economic condition.

Cadbury returns to profitability, posts N93m profit

Cadbury Nigeria Plc, the maker of Bournvita on Tuesday reported a 13% growth in revenue in its first quarter 2017 results. Sales climbed to N8bn from N7bn in the previous year.

The company which had posted back-to-back losses in the past two quarters due to declining sales caused by a weakened economy and competition declared N93m in net profit, albeit a drop of 86% when compared to last year’s N673m.

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.

Cadbury Nigeria appoints new Managing Director

Cadbury Nigeria Plc, announced on Tuesday the appointment of Mr. Muhammad Amir Shamsi as its new Managing Director effective 1 February 2017. Mr. Shamsi takes over from Mr. Roy Naaman who resigned effective 31st January 2017.

Mr. Shamsi joined Mondelez International, the parent company of Cadbury Nigeria Plc, as a Marketing Director of its biscuit business in Pakistan in June 2009. From there, he moved up the ranks to become Head of New Categories, Gum & Candy at Kraft Foods, a Mondelez business in West Africa from 2012 to 2013. He became the Marketing Director of Kraft Foods in West Africa from October 2013 to March 2016. From April 2016 to January 2017, he was in charge of Mondelez Innovation kids Wholesome, Global Biscuits in East Hanover, USA.

Fourth Quarter will be just as tough for Nigerian Consumer Firms – Analysts

Some of Nigeria’s biggest companies suffered losses in the third quarter as the naira continued to depreciate against major world currencies and with inflation spiking to 18.3% as of October, amid a drop in consumer spending and foreign currency scarcity.

Cadbury Nigeria posts 9-months loss of N842m

Cadbury Nigeria Plc, said on Thursday it recorded a net loss of N842m in the first nine months of 2016 ending 30 September. In the same period in 2015, the company made N29m in profit.

The maker of Bournvita has come under pressure on multiple fronts in a slowing economy that has seen inflation spike to 17.9% as of September, made worse by the June 20 naira devaluation which has made borrowing costs more expensive, reflected in higher cost of goods sold. And as with most FMCG companies in the country, obtaining foreign exchange to buy needed raw materials continues to pose a challenge. Compounding the problem for the firm is a weakened consumer purchasing power and competition from rivals in the market. The losses reached N1bn in the third quarter (July – September).

Mondelez backs out of bid to acquire Hershey

Mondelez International, Inc, the US-based global beverage and confectionery behemoth behind such names as Cadbury, among others said on Monday it was backing out of a $23bn bid to acquire US chocolate candy maker Hershey.

Cadbury Nigeria Half-Year revenue fall 1.6% on headwinds, competitive pressure

Cadbury Nigeria Plc, said on Wednesday that revenue for the six months ending in June 30, 2016 fell by 1.6% to N13.9bn, from N14.1bn in the same period a year ago.

While revenue was off by 1.6%, the maker of Bournvita posted a healthy profit after tax of N147m for the period, a 159% increase from 2015.

Cadbury Nigeria’s Q1 revenue rise 6%

bournvita

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.