Scarcity of dollars, others impacted on our cost of doing business - Cadbury Nigeria
Cadbury

Cadbury Nigeria Plc has released its Q1 2022 financial results, reporting a profit of N1.54 billion.

The company had declared a dividend of N0.50 kobo for FY 2021, to be paid on June 16, 2022, while Earnings per share for Q1 2022 is N0.82.

The N1.54 billion figure represents a massive 538% jump compared to N242 million in the corresponding period of 2021.

The profit was supported by cost management practices as the cost of production which increased by only 14%, compared to a 19% increase in 2021.

Further look at the result shows that the company’s profit was driven by significant sales of the company’s geographical segments, the domestic and export sales.

Both segments delivered revenue of N12.79 billion in Q1 2022 compared to N8.92 billion in the same period of 2020.

While domestic sales brought in N12.32 billion during the period to appreciate by 44%, representing 96% of the total revenue, exports grew by 24% to generate N465 million.

The company also made money from interest income on deposits and bank accounts, generating N375 million.

Similarly, the company made N10 million as income from the disposal of property, plant and equipment.

The company’s selling and distribution expenses increased by roughly 14%, during the period, the same as expenses on administrative obligations.

The company’s long term borrowing stood at N6.55 billion, while its total assets are now at N49.35 billion, net assets grew 11.30% to N15.18 billion.

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