Cadbury Nigeria Plc has reported a profit after tax of N172.27m for the one-year period ended December 31, 2020, as contained the company’s unaudited financial report for 2020.
This is 84 percent reduction in profit as against profit of N1.07bn reported by the company in 2019.
Profit before tax stood at N246.67million in 2020 as against N1.54bn in 2019.
Also, cost of sales stood at N29.64bn from N31bn in 2019.
However, revenue declined by 10 per cent from N39.33bn to N35.41bn in 2020.
Analyses of the report indicated that the 10 percent decline in the revenue of Cadbury Nigeria Plc in 2020 was caused by a decrease in domestic and export sales of the company in the previous, which greatly impacted impacted revenue and profits of the beverage manufacturer.
