Cadbury Nigeria Plc reports N1.29 billion pre-tax profit for FY 2022

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.