Cadbury Nigeria Plc revenue has hit a 43 per cent growth, which translates to N23.695 billion in the first quarter ended 31 March 2024 (Q1’24).
According to the company, this represents an increase of 43 per cent over the N16.563 billion recorded in the same period in 2023.
Cadbury Nigeria also reports an operating profit of N2.760 billion in the first quarter of 2024, which is, however, 39 per cent lower than the N4.553 billion that it declared within the same period in 2023.
Commenting on the report, the Managing Director at Cadbury Nigeria Plc, Oyeyimika Adeboye, said the company will continue to strategies to remain on top, despite the challenging business environment that all operators in the FMCG sector are facing, particularly driven by forex losses and rising inflation.
She noted that consumer purchasing power has been significantly impacted by the high cost of living and this continues to impact demand and capacity utilisation as businesses juggle to remain in existence. Despite these challenges, Adeboye said the company remains committed to doing business in Nigeria.
She said, “We will continue to evolve strategies for weathering the storm. We are here for the long haul and will do all we can to meet the needs of our stakeholders.”