Cadbury Nigeria loses N19.09bn in 2023

Kayode Ogundele
Kayode Ogundele
Cadbury Nigeria Plc
Cadbury Nigeria Plc has announced a loss of 3,374 percent for the year ended December 31, 2023, as it recorded N19.09 billion as against N583.1 million posted in 2022.
Fola Akande, Company Secretary, Cadbury Nigeria, stated this in the firm’s annual report and financial statement sent to the Nigerian Exchange Ltd. (NGX) on Tuesday in Lagos.
Akande said that the company’s profit after tax (PAT) for the year under review declined by 2,269 percent to settle at N28.157 billion, as against N1.298 billion recorded in 2022.
She, however, stated that Cadbury Nigeria made a gross profit of N17.337 billion for its 2023 financial year, compared to N7.723 billion posted in 2022, indicating an increase of 124 percent.
The company said for the year ended 2023, the company’s revenue rose by 46 percent to N80.379 billion, compared to N55.213 billion posted in the previous year.
According to her, the company’s operating activities recorded an increase of 3,957 percent, from N194.06 million posted in 2022 to N7.872 billion, as of Dec. 31, 2023.
Akande said that the company’s share capital traded flat at N939,101 in the year under review, as indicated in the year 2022 as well.
She noted that the total equity traded by the company in 2023 also dropped by 149 percent to 6,513,678 as against 13,302,629 traded in 2022.
The company secretary said that the market capitalisation of Cadbury Nigeria, which closed at N22.351 billion as of December 31, 2022, recorded a 60 percent increase within the year under review to settle at N35,685,837 as of December 31, 2023.
According to Akande, the company’s stock quoted on the floor of the Exchange as of December 31, 2023, gained $60k  to close at N19, compared to N11.90 per share, traded in the previous year.
Cadbury Nigeria Plc manufactures and markets a range of chocolate malt drink mixes, sweets, powder beverages, and chewing gum in Nigeria.
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