By InvestAdvocate
Lagos (INVESTADVOCATE)-Food and beverage producer, Cadbury Nigeria Plc on Tuesday posted a loss before tax of N563 million in the year ended December 31, 2016 compared to a pretax profit of N1.58 billion recorded a year earlier.
Similarly, the company declared a loss after tax of N296 million compared to N1.15 billion in the corresponding period of 2015.
Revenue of Cadbury Nigeria jumped 7.41 percent to N29.79 billion in 2016 end from N27.82 billion posted a year ago, the food and beverage producer said in a filing with the Nigerian Stock Exchange (NSE).
The company’s board of directors said there is no dividend payout to investors of the company for the period ended December 31, 2016.
“The Directors are not recommending to shareholders the declaration of a dividend, in light of the performance of the business during the year under review,” according to Cadbury Nigeria’s audited statement for the period ended December 31, 2016.
In 2015 audited year end, the company paid to its shareholders a dividend of 65 kobo per share which amounted to N1.22 billion.
Shares of the food and beverage producer at the close of the trading session on the Nigerian bourse declined 5.00 percent to N7.41 from N7.80 recorded the previous session; losing 0.39 kobo per share.
