By Nkiruka Nnorom
Cadbury Nigeria Plc has attributed its return to profitability to the result of its current effort aimed at repositioning the company for improved efficiency.
The company’s revenue increased to N33.079 billion in 2017 from N29.979 billion in 2016, representing a 10 percent growth. But it reported a profit before tax of N350.317 million in 2017, compared to the pre-tax loss of N562.871 million recorded in 2016. This shows an increase of 163 percent.
It also posted N299.998 million profit after tax, PAT , during the year compared to N296 million loss after tax in 2016, representing a growth of 200 percent.
Based on its improved performance, the Board of Directors has proposed a dividend payment of 16 kobo per share to its shareholders for the year 2017.
In a statement, the company’s Corporate and Government Affairs Director for West Africa, Mr. Bala Yesufu, said, “we have been working assiduously over the years to turnaround our loss situation. We are happy to announce that we finally realised our vision to reposition Cadbury for improved performance in 2017.
“We built our business on four key pillars, namely price competitiveness, aggressive route to market initiatives, sustained consumer-driven activations and exponential growth in our treat portfolio.
Despite the difficult operating environment, the company recorded impressive growth in all these four areas, leading to its full return to profitability at the end of 2017.”