Cadbury’s turnover rises to N27.8b in H1 2022
Cadbury Nigeria Plc, a subsidiary of Mondelēz International, has continued to sustain its current repositioning drive.
The Company’s recently released financial highlights for the first half of 2022 (covering the period January 2022 to June 2022), showed that its turnover rose to N27.8billion in H1 2022, representing an increase of 50.5 percent over the N18.5billion recorded within the same period in 2021.
Similarly, Cadbury Nigeria’s profit for the period under review, grew by 553.7 percent from N516 million in H1 2021, to N2.34billion in H1 2022. The Company’s basic earnings per share also maintained an upward trajectory, rising by 553.7 percent from 27.48 kobo to 124.68 kobo, within the same period.
In a statement issued by the Company, Oyeyimika Adeboye, Managing Director, Cadbury Nigeria, said Cadbury Nigeria is leveraging its resources to remain competitive in a challenging business environment.
She said: “We operate in a tough business environment characterized by FX scarcity, continued devaluation of the Naira, and rising operational costs. We developed some strategies internally to enable us to cope with these challenges. We will continue to create value for our consumers and deliver superior returns to our shareholders.”