Cadbury Nigeria Plc has recorded a turnover of N55.21 billion for the year ended December 31, 2022.
The company’s audited results released on the Nigerian Exchange (NGX) Limited showed that revenue grew by 30.3 percent from N42.37 billion recorded in the same period in 2021 to N55.21 billion in 2022. Cost of sales up by 32.2 per cent to N47.448 billion as against N35.894 billion in 2021, while gross profit grew from N6.48 billion in 2021, to N7.76 billion in 2022, representing an increase of 19.87 percent.
Cadbury Nigeria’s net profit for the period under review, increased by 110.22 percent from N450 million to N946 million, while the company’s basic earnings per share rose by 108.33 percent from 24 kobo to 50 kobo, within the same period, showing that it maintained growth across various indices.
Speaking on the results, managing director of Cadbury Nigeria, Mrs. Oyeyimika Adeboye 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.”
Adeboye added that, “we will keep finetuning 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.”