Key Highlights
- Strong Revenue Growth: 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.
- Increase in Pre-Tax Profit: The company also reported an 18% increase in pre-tax profit from N1.09 billion in 2021 to N1.29 billion in 2022. Despite inflationary pressure and the depreciation of the naira, the growth in pre-tax profits was attributed to increased domestic sales.
- Domestic Sales Driving Revenue: The revenue from domestic sales accounted for 96% of the total revenue achieved by the company during the period, indicating the strong contribution of domestic sales to the company’s overall revenue growth.
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 the increase in domestic sales of its products despite inflationary pressure and depreciation of the naira.
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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By Oladi Samuel