Cadbury Glad To See The Back Of 2008

Cadbury Nigeria (a subsidiary of UK-based Cadbury Schweppes) has posted a net loss of NGN2.8bn (US$19mn) for FY08 despite a 22% uptick in turnover to NGN24.3bn. The reported loss is slightly better than the confectionary giant had expected - in March 2009, Cadbury Nigeria had estimated an FY08 loss of NGN2.9bn. In 2008 it was fined by Nigeria's Securities and Exchange Commission after it was found to have overstated its financial position between 2002 and 2005.

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