Daily Archives: April 2, 2015

Troubled times at Cadbury as profits dip on economic headwinds

Cadbury Nigeria Plc, makers of Bournvita and other fast moving consumables saw a decline in its profit by 75 percent for the year ended December 2014.

The company’s income statement shows a drop in net income by 75 percent to N1.51bn from N6.02bn the same period of the prior year (FY 2013). Sales also slipped by 15 percent to N30.51bn.

Earnings per share (EPS) declined by 61 percent to 75k in 2014 fiscal period versus 192k in fiscal 2013 year end.

Diageo takes full ownership of South Africa’s United National Breweries

Diageo Plc has taken full control of South Africa’s United National Breweries after acquiring the remaining 50% stake in the company.

London-based Diageo said it paid £14.8m ($22m) to acquire the remaining 50% stake in UNB. It also agreed to pay an additional $14m if UNB met certain future earning goals.