Daily Archives: June 25, 2019

Cadbury Nigeria assures shareholders of commitment to creating more value for investors

The Board of Directors of Cadbury Nigeria Plc at its recent Annual General Meeting (AGM) held in Lagos reaffirmed to shareholders of its commitment to creating more value for investors.

The Board restated its commitment to sustaining the company’s dividend policy as shareholders approved the distribution of N471 million as cash dividend for the 2018 business year. Shareholders will receive 25 kobo per share for the 2018 financial year compared to 16 kobo per share in 2017.

FrieslandCampina WAMCO posts 6% revenue growth in 2018

FrieslandCampina WAMCO Nigeria PLC, makers of high quality milk brands, Peak and Three Crowns, reported its full year 2018 results on Tuesday, with revenue growing 6% to N149.2bn compared to N140.1bn it recorded in 2017.

The nation’s largest dairy producer said it faced macroeconomic, infrastructural and security challenges during the the year under review despite slight improvement in the economy from the previous year. It highlighted improvements to include economic growth of 1.93% from 0.82% in 2017, according to the National Bureau of Statistics. Foreign exchange rates also remained stable except for the fourth quarter when the Central Bank of Nigeria (CBN) reduced intervention, forcing manufacturers to source for FX from Investor & Exporter Window, which drove up input costs for manufacturers.