Cadbury Nigeria reports a N22.2 billion loss for the 2024 fiscal year, a slight decrease from the previous year’s N22.4 billion loss. Despite a 61% revenue growth to N129 billion, the company faced a 24% drop in operating income and a 57% decrease in equity, signaling financial challenges.
Cadbury Nigeria’s financial performance for the 2024 year showed a mixed picture as the company reported a loss of N22.2 billion, a slight decrease from the previous year’s loss of N22.4 billion. This downturn was despite a significant boost in revenue, which increased by 61%, reaching N129 billion, up from N80.378 billion in 2023.
However, the company struggled to translate revenue gains into profits. Gross profit rose marginally by 5%, amounting to N18.2 billion, up from N17.3 billion in 2023. Operating activities also faced setbacks, with a 24% drop in operational income, falling to N5.96 billion from N7.87 billion last year.
Cadbury’s share capital saw a significant rise of 21%, reaching N1.14 billion from N939 million. On the other hand, the company’s equity dropped by 57%, standing at N4.38 billion, down from N10.22 billion the previous year.
Despite the challenges, Cadbury’s revenue surge indicates that the company has managed to maintain a strong market presence. However, the struggle to convert this into profitable growth raises questions about its operational efficiency and future prospects.
