Cadbury Nigeria posts N823m PAT, declares N0.25 dividend

Motolani Oseni

Cadbury Nigeria Plc has announced its audited financial statement for the year ended December 31, 2018, with a profit of N823.08 million showing an increase of 174.4 per cent compared to N299.9 million in 2017.

The beverage company in its report to the Nigerian Stock Exchange (NSE) last week announced that Profit before tax rose by 249 per cent to N1.22 billion in 2018, compared to N350 million reported in 2017.

Earnings per share stood at N0.44 in its audited financial statement for the year ended December 31, 2018, above N0.16 in 2017, an increase of 174.36 per cent.

Following the sustained growth in earnings and profitability that was recorded, the management of Cadbury has declared a final dividend payment of N0.25 kobo per N0.50 kobo ordinary shares, 56.25 per cent increase above 16 kobo that was paid to shareholders for the 2017 financial year.

The dividends will be paid electronically to shareholders whose names appear on the register of Members as at Friday, May 17, 2019.

Also, shareholders who have completed the e-dividend registration and mandated the registrar to pay their dividends directly into their bank accounts will receive their dividends on the above date.

Cadbury Nigeria revenue increased from N33 billion in 2017, 9 per cent rise to N35.9 billion in 2018 while the cost of sales was up by 9.25 per cent from N25.64 million in 2017 to N28.012 million in 2018.

Meanwhile, Cadbury Nigeria Plc has appointed Mrs Oyeyimika Adeboye as Managing Director, effective 1st April 2019.

Adeboye is the first female managing director since the company was established in 1965.

According to a notice on the NSE, She takes over from Amir Shamsi, who moves on to a new role within Mondelēz International, the parent company of Cadbury Nigeria.

Commenting on Shamsi’s time at Cadbury Nigeria, the company said: “During his tenure as Managing Director, Mr Shamsi made an invaluable contribution to the turnaround of the business, and drove Cadbury’s growth agenda with respect to top-line, bottom line, and talent.”

On Adeboye’s appointment, the company said it remains committed to “promoting gender equality, diversity and inclusion.”

Adeboye joins a growing list of top female executives at the helm of affairs in multinational companies with operations in Nigeria.

Trained as a chartered accountant, the new Cadbury Nigeria MD joined the board of the company in November 2008, like finance and strategy director, West