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Abdulazeez Abubakar
3 weeks ago
Overview
Cadbury Nigeria reports N28.3bn pre-tax loss for 2024 despite 60% revenue growth
Cadbury Nigeria Plc has published its audited financial results for the year ending 31 December 2024, reporting a pre-tax loss of N28.3 billion, showing an improvement from the N32.2 billion loss recorded in the previous year.
The company recorded full-year revenue of N129.1 billion, a significant increase from N80.3 billion in the prior year, reflecting a year-on-year growth of 60.7 per cent.
This revenue growth was largely driven by sales of refreshments and beverages, with domestic sales making up 88.6 per cent of total revenue at N114.3 billion, while export sales contributed N14.8 billion.
On the expenditure front, the cost of sales surged to N110.9 billion, marking a rise of 75.97 per cent from the N63 billion reported the previous year.
This increase was primarily attributed to higher costs associated with finished goods, raw materials, and packaging, which climbed to N89.2 billion from N47.464 billion in 2023.
Gross profit improved by 5.13 per cent, reaching N18.2 billion from N17.3 billion in 2023, whereas operating profit declined to N5.9 billion from N7.872 billion in the previous year.
As of the close of trading on 28 March 2025, Cadbury’s share price stood at N23.55, reflecting a year-to-date (YTD) return of 9.53 per cent. By comparison, the stock achieved a YTD gain of 13.16 per cent in 2024.
https://nigeriannewsdirect.com/cadbury-nigeria-reports-n28-3bn-pre-tax-loss-for-2024-despite-60-revenue-growth/
