Cadbury Nigeria Plc proudly announces a robust operating profit of N8.397 billion for the fiscal year, concluding on December 31, 2023. This remarkable achievement, as disclosed in the company’s audited financial statement submitted to the Nigerian Exchange Limited, signifies an extraordinary surge of 4,228 percent compared to the N194 million recorded during the same period in 2022.
In a noteworthy accomplishment, Cadbury Nigeria secured the prestigious title of the number one Top Employer in Nigeria, bestowed upon it by the Amsterdam-based Top Employers Institute.
The company’s financial performance demonstrates significant growth, with the gross profit soaring by an impressive 130 percent to N17.790 billion in 2023, up from N7.723 billion in 2022. Additionally, the revenue witnessed a substantial uptick, surging by 46 percent to N80.379 billion during the review period, compared to N55.213 billion in 2022.
Oyeyimika Adeboye, the Managing Director of Cadbury Nigeria, offered insights into this commendable achievement. Despite the challenging operational landscape in the country, the company has steadfastly maintained its growth trajectory. Adeboye attributes this success to Cadbury Nigeria’s resilience and unwavering focus on effective revenue and cost management.
Acknowledging the adverse impact of the substantial devaluation of the Naira, especially on businesses reliant on imported inputs in the fast-moving consumer goods (FMCGs) sector, Adeboye highlighted that the increase in the company’s operating profit is a testament to the efficacy of its growth strategies. These strategies have proven instrumental in navigating challenges and steering the company toward positive outcomes despite external economic pressures.
Cadbury Nigeria’s commitment to sustainable growth and strategic management has resulted in financial success and earned the company recognition as a top employer in the Nigerian market. This dual achievement underscores Cadbury Nigeria’s dedication to excellence in financial endeavors and employee engagement.
As the company continues to navigate the dynamic business environment, the positive momentum in operating profit and other key financial indicators positions Cadbury Nigeria as a resilient and forward-thinking player in the Nigerian market. With a foundation built on effective strategies, adaptability, and a commitment to excellence, Cadbury Nigeria looks poised to sustain its growth trajectory and contribute significantly to the economic landscape.
