Key Highlights
- Cadbury Nigeria Plc reported a significant increase in revenue of 30% from N42.37 billion in 2021 to N55.21 billion in 2022, driven by increased domestic sales of its products.
- The company also reported an 18% increase in pre-tax profit from N1.09 billion in 2021 to N1.29 billion in 2022.
- The company reported a net operating profit of N194 million, however, net interest income was N1.1 billion helping the company report a pre-tax profit of N1.2 billion.
Cadbury Nigeria Plc released its 2022 audited full-year results on Tuesday, March 28, 2023, reporting a pre-tax profit of N1.29 billion.
This represents an 18% increase from the N1.097 billion the company reported during the same period in 2021.
Revenue
- 2022 FY: N55.21 billion
- 2021 FY: N42.37 billion
- Change: +30%
Gross Profit
- 2022 FY: N7.72 billion
- 2021 FY: N6.48 billion
- Change: +19%
Cost of sales
- 2022 FY: N47.48 billion
- 2021 FY: N35.89 billion
- Change: +32.29%
Pre-tax profit
- 2022 FY: N1.29 billion
- 2021 FY: N1.09 billion
- Change: +18%
Net Profit after tax
- 2022 FY: N583.11 million
- 2021 FY: N449.71 million
- Change: +30%
Bottom line: The growth in pre-tax profits was due to a net interest income of N1.1 billion helping the company report a pre-tax profit of N1.2 billion.
The revenue from domestic sales accounted for 96 % of the total revenue achieved by the company during the period under revenue.
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