- Cadbury Nigeria Plc, a subsidiary of Cadbury Schweppes Overseas Limited (CSOL) has released its un-audited interim financial information for the Q2, ended 30 June 2021 with a descend into loss of N516.167 million from a profit of N536.66 million in Q2 2020.
This is in spite that revenue for the Q2 rose by 16% to N18.523 billion from N15.917 billion in Q2 2020.
Export sales dropped by 72.6 percent in six months of January to June this year considering in Q2 last year, Cadbury Nigeria had generated N2.63 billion.
However, the producer of Bournvita, Tom-Tom and Trebor Buttermint, failed to surpass the turnover in Q2 2021, grossing N721.28 million in export sales.
During the period under review, its domestic sales continues to hold a large share in Cadbury Nigeria’s total revenue, as it rose by 34 percent.
A breakdown of the total turnover showed that domestic sales generated N17.80 billion in Q2 2021, against the N13.28 billion it grossed in Q2 2020.
This took Cadbury Nigeria’s total revenue to N18.52 billion for the Q2 of 2021, in contrast to the N13.28 billion recorded during the same period in 2020.
But its cost of production weighed on the revenue, as the company spent N16.34 billion on producing goods sold in Q2 this year, surpassing the N12.60 billion disbursed during the corresponding period of 2020.
