Cadbury PLC, a major maker of chocolate beverages and candy in Nigeria has just released its belated 2015 full year audited report.
The company’s gross revenue dipped to NGN 27.8 billion as against NGN 30.5 billion it declared in 2014. The company’s gross profit increased slightly by 3% to NGN 8.9 billion compared to NGN 8.3 billion the company made in 2014.
The company’s cost of doing business greatly impacted its net profit. The company’s profit for the year NGN 1.4 billion compared to NGN 2.1 billion it made in 2014.
As at the time of preparing the report, the company stated that its stock has declined by 59% to NGN 17 per share compared to NGN 42 per share it was trading at when it reported for 2014.
According to the result, the company’s most profitable business unit is its refreshment beverages accounting for 60% from 56% last year. Its confectionary unit also contributed 32% from 31% last year. However, the company’s Intermediate cocoa product has seen a serious decline in contribution from to 8% from 13% last year.
Nestle is its arch-rival in the Nigerian market. Nestle’s Q1 2016 earnings was stronger than its previous year result. As reported by PageOne in first week of May, Nestle’s “gross revenue went up to NGN 36 billion for last quarter compared to NGN 27 billion the company declared in the same quarter last year. This is a percentage growth of 33.3% year on year.”
Cadbury’s topline brand is BournVita. The company’s has recently launched a massive marketing campaign to take on Nestle’s Milo, but the latter still lead the category by a wide margin.
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