By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Beverage maker, Cadbury Nigeria Plc said on Thursday its profit before tax for the period ended September 30, 2014 dropped 57 percent to N2.396 billion from N5.525 billion in the same period of 2013.

Similarly, profit after tax declined with the same margin of 57 percent to N1.652 billion from N3.875 billion in the corresponding period of 2013.

However, the performance of Cadbury continued to remain weak as revenue declined 12.2 percent year-on-year (y/y) to N23.313 billion from N26.547 billion in the third quarter of 2013.

Basic earnings per share of the fast-moving consumer goods product giant went down 28.5 percent to N88 in the Q3 of 2014 from N123 recorded in the same period of 2013, the company said in a filing with the Nigerian Stock Exchange.