Cadbury reports N16.5bn QI 2023 revenue

Cadbury Nigeria Plc’s revenue rose by 30 percent in the first quarter of this year.

The firm disclosed this in its Un-audited Interim Financial Information released on Sunday.

Cadbury earned N16.56 billion in revenue between January and March this year. This is N3.77 billion higher than the N12.78 billion generated by the company during the same period last year.

It spent N10.20 billion to produce its goods in the first three months of 2023.

This is N650 million higher than the N9.55 billion Cadbury spent on production in the same period in 2022.

READ ALSO:Cadbury Nigeria reports N55.21bn revenue, reduces dividend payout

Cadbury produces Bournvita and 3-in-1 Hot Chocolate beverages, TomTom, Candy Caramel, Candy Coffee, Buttermint, and Clorets gum.

Ripples Nigeria gathered that the rise in the cost of production did not prevent Cadbury from posting a profit growth during the period.

In the first quarter of 2023, Cadbury posted a gross profit of N6.35 billion, which is 97 percent higher than the N3.23 billion reported by the company in Q1 last year.

Also, the profit after tax rose by 124 percent year-on-year to N3.45 billion in Q1 this year compared to N1.54 billion the company reported as net profit in the same period in 2022.

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