BUSINESS DAY
Cadbury Nigeria, a food, sweets and drink company in Nigeria, has recorded an after-tax loss of N11.9 billion in the first nine months of 2024 as a result of huge cost of operations, BusinessDay analysis shows.
The consumer goods firm recorded an after-tax loss amounting to N11.9 billion in the nine months of 2024, from an after-tax loss of N10.2 billion in the same period of 2023.
Further analysis reveals that the firm recorded an increase in cost of sales to N74.8 billion from N42.9 billion while net finance cost grew to N23.2 billion from N19.9 billion.
The firm’s total revenue grew to N89.5 billion from N59.2 billion. Revenue was obtained from domestic sales which amounted to N78.9 billion and export sales (N10.7 billion).
Cadbury Nigeria’s finance income dropped to N343.8 million from N1.79 billion during the period reviewed.
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