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Cadbury Nigeria Forecasts 1.54 Billion Naira Profit

By on September 14, 2011

Cadbury Nigeria Plc, a manufacturer of drinks and food products, forecast annual net income of 1.54 billion naira ($9.9 million).

Revenue for the 12-month period through December will be 33.77 billion naira, the Lagos-based company said in a statement published on the website of the Nigerian Stock Exchange today.

Cadbury Nigeria returned to profit in 2010, with net income of 1.17 billion naira after a loss of 1.24 billion naira a year earlier, according to its annual report for last year. Investment in a new plant and improved sales support expectations profits will continue to rise, the company said.

The company didn’t pay a dividend in 2010 as it sought to build its cash reserves, Chairman Atedo Peterside said on May 12. The stock has fallen 37 percent this year, compared with a 14 percent decline in the Nigerian Stock Exchange All-Share Index over the same period.

One Comment

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