Cadbury Nigeria Plc has reported a loss of N22 billion for the 2024 financial year, reflecting a slight improvement from the N22.4 billion loss recorded in 2023, a one per cent decrease.
The company disclosed this in a corporate filing with the Nigerian Exchange Ltd. (NGX) on Tuesday.
Despite the loss, Cadbury Nigeria recorded a significant 61 per cent increase in revenue, rising from N80.38 billion in 2023 to N129 billion in 2024.
Gross profit saw a marginal increase of five per cent, reaching N18.23 billion compared to N17.34 billion in the previous year.
The company’s share capital rose by 21 per cent, from N939 million in 2023 to N1.14 billion in 2024. However, total equity experienced a sharp decline of 57 per cent, dropping from N10.22 billion in 2023 to N4.38 billion in 2024.
Furthermore, Cadbury Nigeria’s result from operating activities fell by 24 per cent, decreasing from N7.87 billion in 2023 to N5.96 billion in 2024.
Despite revenue growth, the company continues to face financial challenges, reflecting broader economic conditions impacting the manufacturing sector in Nigeria.
NAN
