Cadbury Nigeria posts 84% decline in annual profit

Cadbury Nigeria Plc has reported a profit before tax of N246.67 million for the 2020 financial year, compared to N1.54 billion in the previous year.

The company’s profit after tax fell to N172.67 million last year from N1.07 billion in 2019, its unaudited financial information for the year ended Dec. 31, 2020 showed.

Its revenue dropped by 10 percent year-on-year to N35.41 billion from N39.33 billion.