Companies
Updated: March 28, 2023

Cadbury Nigeria Plc Records N1.2 Billion Profit

By Felicia Abisola Olamiji
March 28, 2023
0

Cadbury Nigeria Plc has released its 2022 audited financial result, reporting a profit before tax of N1.29 billion, which represents an 18 per cent increase from the N1.097 billion the company recorded during the same period in 2021.

During the period under review, the company recorded a revenue of N55.21 billion, a 30 per cent increase from the N42.37 billion recorded in the previous year.

For the 2022 financial year, Cadbury Nigeria Plc recorded a 19 per cent increase in gross profit from N6.48 billion recorded in 2021 to N7.72 billion.

The company’s cost of sales also grew from by 32.29 per cent, from N35.89 billion to N47.48 billion in 2022, while net profit after tax grew by 30 per cent from N449.71 million to N583.11 million.

According to the company, the growth in profit before tax is due to the increase in domestic sales of its products.