Cadbury Nigeria Plc has disclosed a remarkable operating profit of N8.397 billion for the full year ending December 31, 2023.
This figure, as per the company’s audited financial statement filed with the Nigerian Exchange Limited, signifies an extraordinary 4,228 percent increase compared to the N194 million recorded in the corresponding period in 2022.
Despite facing a challenging operating environment in Nigeria, Cadbury Nigeria achieved significant growth and was honored as the number one Top Employer in Nigeria by the Amsterdam-Based Top Employers Institute. Oyeyimika Adeboye, Managing Director of Cadbury Nigeria, attributed the company’s success to its resilience and unwavering focus on revenue and cost management.
Adeboye acknowledged the adverse effects of the massive devaluation of the Naira on businesses, especially those in the fast-moving consumer goods (FMCGs) sector reliant on imported inputs. However, she emphasized that Cadbury Nigeria’s increased operating profit reflects the effectiveness of the growth strategies implemented by the company.