February 7, 2023

Cadbury Nigeria records N55bn revenue in 2022

By Nkiruka Nnorom

Cadbury Nigeria Plc has announced a turnover of N55.21 billion for the year ended December 31, 2022, representing an increase of 30.3 percent over N42.37 billion recorded in the same period in 2021.

The company’s unaudited financial results for the year also indicated that its gross profit grew to N7.76 billion in 2022 from N6.48 billion in 2021, representing an increase of 19.87 percent. Cadbury Nigeria’s profit before tax for the period under review, increased by 110.22 percent to N946 million from N450 million in 2021, while the company’s basic earnings per share rose by 108.33 percent to 50 kobo from 24 kobo.

Commenting on the result, Mrs. Oyeyimika Adeboye, Managing Director of the company, said Cadbury Nigeria has continued to push the boundaries to sustain its current growth trajectory in a tough business environment. “Our recently launched candies (Cadbury Caramel, Cadbury Coffee), and Cadbury Bournvita Biscuit, all contributed to our growth profile in 2022.

“We will keep fine-tuning our strategies to manage these challenges, in line with our mission, which is focused on nourishing and delighting our consumers with the right snacks, while remaining committed to our stakeholders and doing what is right for our environment.”