Cadbury Nigeria has announced the filing of its first  quarter  results for 2011 with the regulatory authorities. For the three months ending March 31, 2011, the unaudited results show a turnover of N7.59b indicating an 18% growth against the corresponding period in 2010. The company also reported a Gross Profit of N2.4b in the same period (a 55% growth on the Q1, 2010 figure of N1.5b).

In a statement to announce the filing, Mr. Kufre Ekanem, Cadbury Nigeria’s Corporate Affairs Manager said “we are pleased with the performance in quarter 1 of 2011 especially the sustained growth in our gross sales numbers.

However, as a result of a higher phasing of marketing expenditure to Q1 this year,. we had a drop in operating profit compared to last year coupled with a one-off exceptional charge taken in the reporting period.”

In a related development, Ekanem also confirmed that the 46th Annual General Meeting of the Agidingbi-based Company will hold at the Civic Centre, Victoria Island, Lagos on Thursday, May 12, 2011.