Cadbury Nigeria Plc, manufacturers of TomTom and Bournvita has released its 2022 audited full-year results reporting a pre-tax profit of N1.29 billion.
The result which was released on Tuesday, March 28, 2023, represents an 18% increase from the N1.097 billion the company reported during the same period in 2021.
For the total revenue, the company recorded an increase of 30% which represents N55.21 billion compared to the N42.37 billion released in the year 2021.
The company also witnessed an increase of 19% in gross profit which result in N7.72 billion compared to N6.48 billion of 2021.
The cost of sales for Cadbury Nigeria Plc had N47.48 billion in 2022 compared to N35.89 billion in 2021 resulting in a 32.29% increase.
The company also reported an 18% increase in pre-tax profit from N1.09 billion in 2021 to N1.29 billion in 2022.
The net profit after tax of the company for 2022 resulted in N583.11 million which is a 30% increase compared to the N449.71 million result in 2021.
According to the company, the growth in pre-tax profits was due to a net interest income of N1.1 billion helping the company report a pre-tax of N1.2 billion.
The revenue from domestic sales accounted for 96% of the total revenue achieved by the company during the period under revenue.
