By Nkiruka Nnorom
Cadbury Nigeria Plc has announced revenue of N28.91 billion for the nine months ended September 30, 2019. This represents an increase of 7.2 per cent over N26.96 billion in revenue realised within the same period in 2018.
The company said in a statement that its gross profit rose by 10.4 per cent to N5.86 billion from N5.31 billion reported in the same period in 2018.
Also read: NNPC assures support for local companies
Cadbury Nigeria’s profit for the period stood at N648 million, which translates to 276.8 per cent growth when compared to N173 million realised in the same period of last year.
According to the company, the result reflects a sustained positive trend in its performance, while adding that profit before tax within the review period grew by 267.4 per cent to N926 million from N253 million in 2018.
Cadbury Nigeria Plc, a publicly quoted company, is the pioneer cocoa beverage manufacturer in Nigeria. Cadbury Nigeria is a 74.99 per cent owned subsidiary of Mondelēz International, a global snacking powerhouse with an unrivalled portfolio of brands.
The remaining 25.01 per cent of shares are held by a diverse group of indigenous, individual and institutional investors. A front-runner in beverages, confectionery and gum, Cadbury Nigeria’s products–Bournvita, Hot Chocolate 3 in 1, TomTom, Buttermint, Trident and Clorets–are market leaders in their respective consumer segments.