Cadbury Nigeria Plc has announced revenue of N9.283 billion for the three months ended March 31, 2019. This represents an increase of 12.7 percent over N8.235billion revenue realised within the same period in 2018. The beverage maker also recorded gross profit of N2.375 billion, representing an increase of 32 percent over the N1,799billion, which was reported for the same period in 2018. Cadbury Nigeria’s profit for the period stood at N506 million, which translates to 2,200 percent growth, when compared to N22million realised in the first quarter of last year.
Cadbury Nigeria’s first quarter result reflects a sustained positive trend in the company’s performance. In its full year result for 2018, profit before tax surged by 242.9 percent to N1.2billion, from N350 million in 2017. The company also reported an increase of 174 percent in its profit after tax from N299.9million to N823million, within the same period.
Cadbury Nigeria had announced the appointment of Oyeyimika Adeboye as managing director, effective 1st April, 2019. Adeboye took over from Amir Shamsi, who moves on to a new role within Mondelēz International, the parent company of Cadbury Nigeria. Adeboye is the first woman to be appointed managing director since the establishment of Cadbury Nigeria over five decades ago.
Cadbury Nigeria Plc (CN), a publicly quoted company, is the pioneer cocoa beverage manufacturer offering some of the most loved brands in the country. Cadbury Nigeria is a 74.99 percent-owned subsidiary of Mondelēz International, a global snacking powerhouse with an unrivalled portfolio of brands. The remaining 25.01 percent of shares are held by a diverse group of indigenous, individual and institutional investors.
ODINAKA ANUDU
