Cadbury Nigeria Plc, holds its Annual General Meeting with shareholders and other stakeholders to discuss the affairs of the company. During these meetings, shareholders are able to discuss with members of the Board, objectively, in the spirit of good governance and accountability.
2011 Cadbury Nigeria PLC Annual Report
News Release: Cadbury Nigeria Holds 47th Annual General Meeting, Announce N11 Billion Gross Profit
Lagos, May 9, 2012 - Cadbury Nigeria Plc has thanked all its shareholders for the confidence and support shown in the company in its sustained resurgence. The gratitude was expressed at the close of its 47th Annual General Meeting (AGM) which took place in Lagos on Wednesday, May 9, 2012.
Speaking after the meeting, Kufre Ekanem, Corporate Affairs Manager (West Africa) at Cadbury Nigeria, said “the improved performance of the Company was hinged on the back of sustained focus on internal efficiencies. Our audited Group results revealed a 17% increase in Turnover over 2010, a 21% growth in Gross Profit and a 165% improvement in Operating Profit. The Group realized a Turnover of N34.11b, Gross Profits of N11.15b and Profit before Tax of N5.08b for 2011.”
At the meeting with shareholders, Cadbury Nigeria Plc’s Board of Directors informed all stakeholders that the Company’s ambitious facility upgrade programme which commenced in 2010 is continuing into 2012 and beyond.
Ekanem added that “every successful year of performance takes us closer to the payment of dividends but the Board of Directors have not recommended the payment of dividends for the year under review. Instead the Board recommends that the profit realized in 2011 be ploughed back to sustain the company’s momentum and continue the investment in capital projects.”