•As Cadbury posts N27 billion loss
Again, investors have called on the government to save the real sector from total collapse and subsequent erosion of shareholders’ funds by finding practical ways to tackle the issue of the foreign exchange (FX) crisis in Nigeria.
This came as Cadbury Nigeria Plc reported a loss of N27.6 billion in its 2023 full-year operations, representing a 2,228 per cent decline from N1.3 billion pre-tax profit recorded in the corresponding period in 2022.
They warned that the banking sector which is currently posting improved performance would soon face a severe crisis with the huge losses posted by firms under the real sector who have pulled a large chunk of funds from banks as loans.
According to them, with the current harsh operating environment, especially the issue of FX shortages, the loan facility would not be properly utilised by these firms…
Read More
