Article Summary
- Cadbury Nigeria’s Q1 2023 revenue rose significantly to N16.56 billion from N12.78 billion recorded in Q1 2022.
- Pre-tax growth of N4.93 million in 2023 from a profit of N2.20 billion reported during the same period in 2022.
- Gross profit rose to N6.35 billion from N3.32 billion recorded during the comparable period of the 2022 first quarter, representing a 97% growth.
Cadbury Nigeria Plc has released its unaudited financial results for the first quarter that ended March 31, 2023, showing impressive performance across major financial indicators.
The unaudited financial report showed that revenue rose significantly to N16.56 billion from N12.78 billion recorded in the 2022 financial year, representing 30% growth.
The company also reported a 97% growth in gross profit from N3.32 billion in 2022 to N6.35 billion in 2023.
Cadbury’s profit before tax rose to 124%, to close Q1 2023 at N4.93 billion, from N2.20 billion recorded in 2022.
Profit after tax (PAT) also grew by 124% to N3.45 billion in Q1 2023, compared to N1.54 billion recorded the year before.
More key takeaways from the financial report are highlighted below.
Revenue
- 2023 Q1: N16.56 billion
- 2022 Q1: N12.78 billion
- Change: +30%
Gross profit
- 2023 Q1: N6.35 billion
- 2022 Q1: N3.32 billion
- Change: +97%
Profit before tax
- 2023 Q1: N4.93 billion
- 2022 Q1: N2.20 billion
- Change: +124%
Profit after tax
- 2023 Q1: N3.45 billion
- 2022 Q1: N1.54 billion
- Change: +124%
