Cadbury Nigeria posts 26% rise in first quarter profit despite 8% decline in revenue

NIGERIA – Cadbury Nigeria, subsidiary of snack and confectionery firm, Mondelez International has released its unaudited financial statement for the first quarter period ended March 31st, 2020. According to the interim financial statement, the company’s profit before tax for the period rose by 26% to N912.7 million (US$2.5m) compared to N723.9 million (US$2m) achieved in Q1 2019. The Bournvita maker’s profit after tax equally rose by 26% to N638.9 million (US$1.7m) from N506.7 million (US$1.4m) recorded in the same period in 2019. However, the company’s revenue for the quarter declined by 8% to…

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