Cadbury Nigeria Plc Records N8.397b Profit

Date:

February 19, 2024

Cadbury Nigeria Plc Records N8.397b Profit

By Emmanuel Uffot

One of the frontline food and beverage manufacturing company in Nigeria has announced an operating profit of N8.397 billion for the year ended December 31, 2023.
According to the company’s account made public at the Nigeria Exchange Limited, the profit shows an increase of N194 million recorded within the same period which represents 4,228 percent increase.

The account shows that, gross profit rose by 130 percent to ₦17.790 billion in 2023 from ₦7.723 billion in 2022, while revenue increased by 46 percent from ₦55.213 billion in 2022 to ₦80.379 billion within the same period.

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Reacting to the impressive result, the Managing Director of Cadbury Nigeria Plc Oyeyimika Adeboye said the company sustained its current operating environment in the country due to its resilience as well as focus on revenue and cost management.
Cadbury is the producer of Bournvita, Pronto and Knorr Maggi cubes among others.

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