Cadbury Nigeria Plc has declared a turnover of N35.61 billion for the six months concluding on June 30, 2023.
This signifies a Notable Surge of 27.7 percent in comparison to the N27.877 billion registered during the equivalent period in 2022.
Concurrently, the Company’s gross Profit has Soared by 74.7 percent, reaching N10.230 billion from the preceding year’s N5.854 billion, while the Operating Profit for the reviewed Interval has Surged by an Impressive 113.2 percent, ascending to N6.072 billion from 2022’s N2.848 billion.
In a provided Statement, Cadbury Nigeria’s Managing Director, Oyeyimika Adeboye, ascribed the Company’s Revenue expansion to robust Sales Execution, concentrated brand enhancement efforts, and strategic Trade and Consumer Initiatives carried out Nationwide.
However, the Statement from the Company acknowledges the persistent challenges encountered by Businesses operating in Nigeria, marked by escalating Inflation and Currency Devaluation, which consequently Escalate Manufacturing and operational Expenditures.
Despite achieving an Operating profit of N6.072 billion, this accomplishment has been Notably Influenced by the recent devaluation of the Naira.
Adeboye remarked, “We are committed to maintaining our resilience and fostering Innovation to navigate through the demanding Operational landscape.”
