Bournvita maker, Cadbury Nigeria Plc in the first nine months of 2024 recorded a 65% increase in pre-tax losses from N10.24 billion in the same period of 2023 to N16.93 billion in the period under review.
The company’s 2024 nine-month financial statement reveals that revenues rose by 51% to N89.52 billion from N59.2 billion in the corresponding period of 2023.
In the period under review, the company’s finance costs increased significantly, preventing profitability during the period.
Key highlight of the report
- Revenue- N89.51 billion, +52%
- Cost of sales- N74.76 billion, +74%
- Gross Profit- N14.76, -9.44%
- Selling and distribution expenses- N5.18 billion, -0.13%
- Result from operating activities- N6.24 billion, -35%
- Net finance cost- N23.18 billion, +17%
- Pre-tax loss- N16.93 billion, +65%
- Loss after tax- N11.85 billion, +16%
- Basic Earning Per Share (EPS)- (-N520)
In the quarter ending September 2024, the company’s revenue reached N38.08 billion- an increase from N23.59 billion.
However,…
