According to its annual report and financial statements for the year ended December 2023 filed with the Nigerian Exchange Limited on Tuesday, Cadbury Nigeria Plc has suffered ₦19. 09bn loss after tax.
The loss represents a 3,374 per cent downturn from a profit of ₦583.11m in 2022, and it means the shareholders will get no dividend payment for the financial year 2023.
₦751.28bn dividend was shared in 2022.
In 2023, the company’s revenue increased by 46 per cent to ₦80.38bn from ₦55.21bn in the previous year.
The retained earnings of the firm turned a negative of ₦11.36bn resulting in a negative total equity of ₦6.51bn from ₦13.30bn.
The net finance cost surged by over 3000 per cent to ₦36.03bn from ₦1.10bn.
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