Cadbury Nigeria Plc has reported a 28.23% growth in revenue from N9.61 billion to N12 billion in its Q4/2021 Unaudited Financial Statement.
The company also reported a loss after tax of N682.87 million, from a loss position of N681.72 million in the corresponding period of 2020.
In 2021, while revenue recorded growth in domestic sales, which stood at N40.27 billion, export sales to other parts of Africa and Europe recorded a decline, which could be attributed to supply chain disruptions in the global market due to COVID.
The company has three reportable business segments, which are: refreshment beverages, confectionery, and intermediate cocoa products. Refreshment beverages generated N28.01 billion, confectionery generated N12.56 billion, and intermediate cocoa products generated the least revenue of N1.80 billion.
Key highlights of the report
The sale of by-products and gains on disposal of PPE weighed down other income, declining significantly y-o-y by 99.86% and 99.38%, respectively.
Selling and distribution expenses increased 10.19% year on year, from N4.58 billion to N5.04 billion, indicating that aggressive marketing and distribution were a contributor to the driver of sales.
Interest income on bank deposits generated N856 million during the period.
Net profit for the period was subdued by some expense line items as revealed in the income statement. Apart from selling and distribution expenses, administrative expenses declined by 21.74% from the prior-year period, subduing the growth in net profit for the period.
Income tax expense, as well, amounted to approximately N355 million in the period under review, as contained in the financial statement.
In the 2021 FY, net profit depreciated by 4.33%, from N931.83 million to N830.48 million.
The company’s net assets increased by N492.40 million from N13.55 billion, recorded as at December 2021, to N14.04 billion in the period under review. However, total assets stood at N43.68 billion.
Cadbury Nig Plc is currently trading at N8.70 per share and its market capitalization stands at N16.34 billion as at Friday, January 28, 2021. Year-to-date performance shows that the share price has declined by 1.14.