Cadbury Nigeria Plc has posted a pre-tax profit of N2 billion for the fourth quarter ended December 2024.
This represents a 111.73% recovery from the N17.3 billion pre-tax loss recorded in the same period of the previous year.
The company’s unaudited financial statement released on the Nigerian Exchange (NGX), showed a positive turnaround in performance from a full-year pre-tax loss of N28.1 billion in 2023 to N14.8 billion in 2024, a 47.1% reduction.
Revenue growth was a key driver of the improvement with fourth-quarter revenue surging by 87.28% year-on-year to N39.6 billion, compared to N21.1 billion in Q4 2023.
Full-year revenue also saw a 60.73% increase to N129.1 billion from N80.3 billion in 2023.
Despite the higher revenue, rising costs remained a challenge with the company’s cost of sales increasing by 77.18% to N111.6 billion. However, a 40.88% decline in net finance costs to N21.3 billion provided some relief and contributed to the overall reduction in losses.
Other financial highlights from the report include:
- Gross Profit: N17.4 billion (+0.90% YoY)
- Selling and Distribution Expenses: N6.2 billion (-15.21% YoY)
- Operating Income: N6.4 billion (-18.64% YoY)
- Total Assets: N64.5 billion (+1.82% YoY)
The company’s performance reflects improved domestic sales and cost management strategies, which have helped stabilize operations amid economic challenges.
While the company still recorded an annual loss of N14.8 billion, the significant reduction compared to the N28.1 billion loss in 2023 suggests a gradual recovery.
Analysts say the strong Q4 performance could set the stage for further improvements in 2025.
As Cadbury Nigeria navigates the evolving business landscape, investors will be watching closely to see if the company can sustain its recovery momentum and return to full-year profitability in the coming quarters.