Cadbury Nigeria forecasts 60% rise in first-quarter profit

Pretax profit is seen at 470.5 million naira for the period while revenue is estimated at 8.73 billion naira, the Lagos- based company said in a statement published on the website of the Nigerian Stock Exchange today [6 December 2011].

Cadbury Nigeria returned to profit in 2010, after a loss in the preceding year. Growth expectations are based on its addition of another plant and improved sales, the company said.

The company's shares were unchanged at 11.05 naira by the 2:30pm close in Lagos. The stock has lost 57% of its value this year, compared with a 21% decline in the Nigerian Stock Exchange All-Share Index (NGSEINDX).

Source: Bloomberg