Cadbury 3Q Numbers In, Revenue and Profit Take A Hit
Cadbury Nigeria Plc released its unaudited 3Q results today. The numbers were not striking as turnover plummeted 16% to N 20.7 Billion from N 24.7 Billion at 3Q, 2010
Profit before tax also fell to N 1.78 Billion from N 2.2 Billion at 3Q, 2010.
Net profit was down 19% to N 1.27 Billion from N 1.57 Billion over the same period last year.
Cadbury is investing in a new plant to manufacture Bournvita just outside of Lagos. The plant is expected to cost N 7 Billion.
The company’s stock is currently trading at N 14.20, off 47% from the beginning of the year.
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