Cadbury Nigeria Loses N19.09 Billion in 2023

Cadbury Nigeria Plc reported a 3,374 percent loss of N19.09 billion for the fiscal year ending December 31, 2023, compared to N583.1 million in 2022.

Cadbury Nigeria’s Company Secretary, Mrs Fola Akande, revealed this in the company’s annual report and financial statement submitted to the Nigerian Exchange Ltd (NGX) on Tuesday in Lagos.

According to Akande, the company’s profit after tax (PAT) for the year under review fell by 2,269 percent to N28.157 billion, compared to N1.298 billion in 2022.

She did, however, reveal that Cadbury Nigeria generated a gross profit of N17.337 billion for the fiscal year 2023, up from N7.723 billion in 2022, representing a 124% rise.

The company’s sales for the fiscal year ending 2023 increased by 46 percent to N80.379 billion, up from N55.213 billion the previous year.

According to her, the company’s operating operations have increased by 3,957 percent, from N194.06 million in 2022 to N7.872 billion as of December 31, 2023.

Akande stated that the company’s share capital traded flat at N939,101 in the year under review, as reported in 2022.

She also observed that the company’s total equity traded in 2023 fell by 149% to 6,513,678, compared to 13,302,629 in 2022.

The company secretary stated that Cadbury Nigeria’s market capitalisation, which closed at N22.351 billion on December 31, 2022, increased by 60% during the year under review, reaching N35,685,837 on December 31, 2023.

According to Akande, the company’s shares mentioned on the Exchange floor as of December 31, 2023, increased by 60k to close at N19, up from N11.90 per share traded the previous year.

Cadbury Nigeria Plc produces and promotes a variety of chocolate malt drink mixes, candies, powder beverages, and chewing gums in Nigeria.

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