HALF YEAR RESULTS: CADBURY NIGERIA's FIRM GRIP.

From the figures released this week for the half year to June, Cadbury Nigeria PLC is far more in control this year than it was in 2015.

According to the unaudited results, there was a marginal drop in core revenue by 1.55% to N13917.1m which was accompanied by a lower 1.47% decrease in cost of sale  to N9866.6m and so, gross profit decreased by 1.79% to N4050.5m.

However, not to worry, there was firm grip on other costs aside from the fact that Other income more than trippled to N40.1m and finance income rose by 31% to N83.7m thus bringing total income drop to 1.22%.

The main thing was that due to good cost control, administration costs dropped by 21.1% to N1056.8m and selling and distribution expenses went down by 6.82% to N2901.2m.

In the end, compared to N250.7m loss by June 2015, Cadbury Nigeria reported N216.4m profit before tax which works out at N1.54 gain on each N100 income compared to N2.21 loss previously.

CADBURY NIGERIA: Nm
                 Half year
                  2016.        2015
Total inc.14040.9. 14215.0
Core inc.13917.1.  14137.9
C.of sale 9866.6.   10013.4
G. Profit   4050.5.   4124.5
Other inc.    40.1.        13.2
Selling etc2901.2.  3113.4
Admin      1056.8.   1338.9
Fin income 83.7.       63.9
PBT            216.4.  (250.7)
Margin %    1.54.   (2.21)

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