Cadbury Nigeria Plc shareholders will receive no dividend payment for 2023 as the company reports a significant loss of N19.09 billion after tax.
Despite a 46% increase in revenue to N80.38 billion, the firm experienced a drastic 3,374% decline from its 2022 profit.
The loss led to negative retained earnings and total equity. With net finance costs soaring by over 3000%, the company faced financial challenges.
Cadbury Nigeria Plc, majority-owned by Cadbury Schweppes Overseas Limited, primarily manufactures and sells consumer goods in Nigeria and West Africa.
Established in 1965, the company’s diverse portfolio includes cocoa beverages, gum, candy, and intermediate cocoa products.
