Business
Cadbury Nig Nets N5.25bn Profit
Cadbury Nigeria has announced the filing of its year to date results for the nine months ending September 30,2009. The unaudited results show a turnover of N18.94bn and gross profit of N5.25bn (a 7.9 per cent growth on turnover and a 63 per cent improvement on gross profit against the corresponding period in 2008).
The company also reported a return to operating profit with N959 million made in the 9 months against a loss figure last year in addition to a narrow loss before tax of N1.27bn (a 28.9 per cent performance improvement when measured against a loss before tax position of N1.79bn in 2008).
In a statement confirming the filing of results to the regulation authorities, Cadbury Nigeria’s Corporate Affairs Manager, Mr. Kufre Ekanem said: “in addition to our consistent growth in turnover, gross profits and market share, we are proud to report the return of Cadbury Nigeria to underlying operating profits. Also, the loss before tax position caused by the high level of interest charges on historical debts carried by the company has further declined.
According to Ekanem, “the application list for the Cadbury Nigeria Right Issue, closed recently and we are optimistic of the outcome of the ongoing process.
We hope to minimise the interest burden on the company by liquidating the bank borrowings once we receive the net proceeds from our “Rights Issue”.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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