Cadbury Nigeria Reports 110% Jump in Profit in 2022

Cadbury Nigeria, a food, sweets and drink company headquartered in Lagos, on Wednesday announced a 30% increase in revenue from N42.372 billion reported in the 2021 financial year to N55.213 billion as of December 31, 2022.

In the company’s unaudited interim financial statement obtained by Investors King, gross earnings improved to N7.765 billion, a 20% increase from N6.478 billion filed in the corresponding period of 2021.

Results from operating activities stood at N247.214 million following a 50% decline from N491.468 million recorded in 2021.

Profit before tax grew by 23% to N1,352 billion in the year under review from N1.098 billion in 2021.

Profit for the year rose by 110% to  N946.093 million from N449.712 million achieved a year ago. Share capital remained unchanged at N939.102 million.

Similarly, basic earnings per share appreciated by 110% from N23.94 to N50.37.

Meanwhile, Cadbury Nigeria was awarded a top employer certificate in Nigeria in 2022.

The Managing Director, Cadbury Nigeria, Oyeyimika Adeboye, in a statement, said: “We are excited that our company has been recognised as a Top Employer beyond the shores of Nigeria. This shows our people’s policies and practices are world-class. We will continue to put our people first and delight our consumers with the right snacks made the right way.”

Human Resources Director, Cadbury Nigeria, Wole Odubayo, added: Our certification as a Top Employer for the 2nd year consecutively in Nigeria, and ranking as one of the top three companies in Nigeria, further emphasize our commitment to best-in-class people practices, and a strong mindset of continuous improvement.

“It is also my pleasure to note that our Top Employer certification for this year is not just for Nigeria, but we have been certified as a Top Employer in Africa as well, and this serves to enhance our appeal as the employer of choice that we truly are.”