Beverage and confectionary company, Cadbury Plc said it made a net profit of N299 million for the full year 2017.
The result shows the company has exited several quarters of posting losses.
Total revenue for the period was reported as N33 billion compared to N29 billion reported in 2016. The company’s costs were still strong as its gross profit came in at N7 billion compared to N6 billion in 2016.
The real boost it received to post a profit was a reduction in its administrative costs down to N1.5 billion compared to N2 billion spent in 2016. It, therefore, showed that Cadbury must have carried out massive retrenchment and cost-cutting moves to save that much.
The company competes in the beverage and confectionary business with the local unit of Swiss’ Nestle Nigeria Plc.