Total Nigeria Plc posts disheartening results by posting 103% decline in their PAT, thus posting a net loss for the period.   

24 October 2019: Cadbury Nigeria Plc release their nine month results ending 30 sep 2019, and the results couldn't have been more disappointing.

Their increase in cost of sales also contributed to the downfall of the gross profit, which slumped by 23.42% to N 25 bn from N 30.9 bn as reported for the same period in Sep’18.

Their operating profit fell high from the sky, mainly due to an increase in administrative expense which along with a decrease in the other income.

Their Net finance costs also increase massively which led to a 101% decline in their Profit before Tax( PBT ), and resulted in a loss before tax( LBT) of N 116 Mn from a PBT of N 11 bn recorded in the similar period in Sep’18.

Consequently, their PAT also slid by 103% coming to a loss of N 204 million when compared to a profit of N 7.6 bn recorded in the same period in Sep’18.

Their earnings per share is now -0.60, which was recorded as 22.58 in Sep’18.

Reporting for EasyKobo on Thursday , 24 October 2019 in Lagos, Nigeria

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