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  • Cadbury Nigeria grows profit by 182% in Q1

    Cadbury Nigeria grows profit by 182% in Q1

    Cadbury Nigeria Plc recorded strong growths in sales and profitability in the first quarter, with net profit rising by 182 per cent to N5.98 billion.

    Key extracts of the interim report and accounts of Cadbury Nigeria for the first quarter ended March 31, 2025 showed that the company reversed its loss ofN7.32 billion recorded in first quarter 2024 with a net profit of N5.98 billion in first quarter 2025. Pre-tax profit stood at N8.54 billion in first quarter 2025 as against loss of N10.45 billion in first quarter 2024. Cadbury Nigeria’s gross profit further improved by 143 per cent from N4.99 billion to N12.15 billion. Turnover had risen by 57 per cent from N23.69 billion in t first quarter 2024 to N37.22 billion in first quarter 2025.

    Total equity rose from N4.38 billion to N10.35 billion, representing an increase of 137 per cent.

    With these, earnings per share (EPS) increased by 182 per cent to N2.62, reversing a loss of N3.21 recorded in comparable period of 2024. Net assets per share also rose from N1.92 to N4.54, representing an increase of 137 per cent.

    Managing Director, Cadbury Nigeria Plc, Oyeyimika Adeboye said the company’s sterling performance in the first quarter of this year reflected its resilience and agility in the face of a challenging business environment.

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    She added that the company’s strong focus on cost management and efficient use of resources are yielding fruit.

     “I must commend my colleagues at Cadbury Nigeria and our board of directors for their commitment in ensuring that we successfully navigated the stormy waters. I must also specially thank Mondelez International, our parent company, for its unwavering support during this difficult period,” Adeboye said.

    Cadbury Nigeria, which turned 60 on January 09, 2025, was earlier this year, rated Number Two Top Employer in Nigeria and Regional Top Employer in Africa, by the Amsterdam-based Top Employers Institute, for the fourth consecutive year.

  • Cadbury Nigeria marks 60th anniversary

    Cadbury Nigeria marks 60th anniversary

    Cadbury Nigeria Plc, a subsidiary of Mondelēz International, one of the world’s largest snacking companies, marked 60 years of operation in the country on 9 January 2025.

    According to the statement, Cadbury Nigeria evolved from repackaging imported bulk products into a full manufacturing operation, to meet growing local demand. Cadbury Nigeria Limited was incorporated on 9 January 1965, and became a publicly listed entity on the Nigerian Stock Exchange (NSE), in 1976.

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    Commenting on this milestone, the Chairman, Cadbury Nigeria, Mr. Adedotun Sulaiman, said: “Cadbury Nigeria has come a long way from its humble beginnings to what it has become today. We are proud of our achievements in the last six decades. We know the journey has often been turbulent, but we will continue to demonstrate the resilience that we are known for and keep offering value to our shareholders.

    “I express my sincere gratitude to all our employees, past and present, for believing in the vision of Cadbury Nigeria, and for making the Company a household name in Nigeria. I would also like to thank our suppliers, business partners, shareholders, and other stakeholders in the business, for their loyalty. Finally, I would like to especially thank the government for the immense support that we have enjoyed over the years.”

  • Cadbury Nigeria grows sales by 51%

    Cadbury Nigeria grows sales by 51%

    Cadbury Nigeria Plc grew its sales by 51 per cent to N89.5 billion in third quarter 2024.

    The nine-month report for the period ended September 30, 2024 showed that turnover rose from N59.2 billion in third quarter 2023 to N89.5 billion in third quarter 2024. However, gross profit dropped by nine per cent from N16.3 billion in third quarter of 2023 to N14.7 billion in 2024. The company closed third quarter 2024 with a loss of N11.8 billion as against N10.2 billion recorded in comparable period of 2023.

    Cadbury Nigeria attributed the loss to naira devaluation caused by the persistent foreign exchange (forex) crisis and high cost of operation, which have continued to impact negatively on profitability, despite growth in turnover.

    The company reaffirmed its commitment to its Nigerian business, despite the current challenging operating environment.

    Read Also: Forex loan conversion increases core investor’s stake in Cadbury Nigeria to 79.4%

    Cadbury Nigeria explained that it had taken steps to mitigate some of the challenges, noting that it had earlier this year secured shareholders’ approval for conversion of an outstanding intercompany loan of $7.718 million or N7.036 billion owed to its majority shareholders, Cadbury Schweppes Overseas Limited, to equity.

    Managing Director, Cadbury Nigeria Plc, Oyeyimika Adeboye, said the company would remain innovative in growing its business and delivering values to all stakeholders.

     “We are not insulated against the harsh business environment in Nigeria that has impacted negatively on the profitability of many companies across virtually all sectors of the economy.

    “Despite this, we would like to reassure our stakeholders, particularly our shareholders and customers, that we will continue to remain innovative and resilient to help us better manage these challenges. We are here for the long haul,” Adeboye said.

  • Cadbury Nigeria grows sales by 43% in Q1

    Cadbury Nigeria grows sales by 43% in Q1

    Cadbury Nigeria Plc grew its sales by 43 per cent to N23.7 billion in the first quarter as the beverage and snack company reaffirmed its commitment to long-term investment in the Nigerian economy.

    Key extracts of the interim report and accounts of Cadbury Nigeria for the first quarter ended March 31, 2024 showed that turnover rose to N23.695 billion in first quarter 2024 as against N16.563 billion recorded in first quarter 2023. Operating profit however dropped by 39 per cent to N2.76 billion in first quarter of 2024 compared with N4.553 billion in first quarter 2023.

    Managing  Director, Cadbury Nigeria Plc, Oyeyimika Adeboye, said challenging business environment that all operators in the fast moving consumer group sector faced was exacerbated by foreign exchange (forex) losses and rising inflation.

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    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.

    “We will continue to evolve strategies for weathering the storm,” she said. “We are here for the long haul and will do all we can to meet the needs of our stakeholders,” Adeboye said.

    Mondelēz International, which operates in more than 150 countries, holds majority equity  stake of 74.99 per cent in Cadbury Nigeria.

  • Shareholders okay Cadbury Nigeria’s debt conversion

    Shareholders okay Cadbury Nigeria’s debt conversion

    Shareholders of Cadbury Nigeria Plc yesterday approved the conversion of the company’s outstanding dollar-denominated loan to shares in the company, in a major balance sheet restructuring aimed at freeing the company from the increasingly expensive loan.

    At the extraordinary general meeting in Lagos, shareholders endorsed the plan to convert about $7.72 million or N7.04 billion owed to Cadbury Nigeria’s majority shareholder, Cadbury Schweppes Overseas Limited, to equity.

    Cadbury Schweppes Overseas Limited, a subsidiary of Mondelēz International Inc, holds 74.97 per cent controlling equity stake in Cadbury Nigeria.

    Under the approval, the loan would be converted into equity by the allotment of 402.083 million ordinary shares of 50 kobo each to Cadbury Schweppes Overseas Limited.

    Shareholders also approved increase in Cadbury Nigeria’s share capital from N939.101 million to N1.140 billion.

    Managing Director, Cadbury Nigeria Plc, Oyeyimika Adeboye, explained that the adoption of debt-to-equity conversion was due to challenges faced in sourcing dollars to repay the company’s foreign currency-denominated loans, due to persistent foreign currency scarcity experienced in the country.

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    Foreign exchange (forex) losses had pushed the company to a loss of N27.63 billion in 2023, despite considerable improvements in sales and underlying profitability.

    Key extracts of the unaudited report and accounts of Cadbury Nigeria for the year ended December 31, 2023 showed that the company recorded a turnover of N80.38 billion in 2023, 46 per cent increase on audited report of N55.21 billion in 2022. Gross profit rose from N7.72 billion in 2022 to N17.79 billion in 2023, an increase of 130 per cent. Operating profit jumped from N194.06 million to N8.4 billion. However, with foreign exchange losses, the company closed 2023 with loss of N27.63 billion as against pre-tax profit of N1.3 billion in 2022.

    Adeboye, said the company has sustained its current growth trajectory, despite the difficult operating environment in the country, due to its resilience as well as focus on revenue and cost management.

    According to her, the massive devaluation of the naira impacted negatively on businesses particularly operators in the fast-moving consumer goods (FMCGs) sector that rely on imported inputs.

    She noted that the increase in the company’s operating profit was an indication that the growth strategies that it has put in place are yielding fruit.

    “We operate in a challenging environment that requires a degree of creativity and tenacity to remain in business. Despite the strong economic headwinds we faced during the year under review, Cadbury Nigeria remains committed to delivering value for its various stakeholders and we shall continue to put our consumers at the heart of what we do,” Adeboye said.

    She pointed out that Cadbury Nigeria was rated number one top employer in Nigeria by the Amsterdam-based Top Employers Institute recently. Cadbury Nigeria was rated number two last year in Nigeria and recognised with the prestigious Top Employer certification as a Regional Top Employer in Africa, for the third consecutive year.

    Adeboye described the award as a milestone and assured that the company remained focused on the future with commitment to excellence and innovation.

    “The well-being of our people will continue to drive us forward. We are excited about the opportunities that lie ahead and the positive impact we make together,” Adeboye said.

    She added that the company is focused on nourishing and delighting consumers with the right snacks and remains committed to its stakeholders.

  • Cadbury Nigeria records 4228% increase in operating profit

    Cadbury Nigeria records 4228% increase in operating profit

    Following the approval of the unaudited financial statements of Cadbury Nigeria Plc by the Board of Directors, the Company has announced an operating profit of N8,397billion for the full year ended 31 December 2023. This represents an increase of 4228 percent over the N194million it recorded in the same period in 2022.

    The Company’s gross profit also rose by 130 percent from N7,723billion in 2022 to N17,790billion in 2023, while revenue increased by 46 percent from N55,213billion to N80,379 billion within the period under review.

    In a statement, Oyeyimika Adeboye, Managing Director, Cadbury Nigeria, said the Company sustained its current growth trajectory, despite the difficult operating environment in the country, due to its resilience as well as focus on revenue and cost management.

    Noting that the massive devaluation of the Naira impacted negatively on businesses particularly  operators in the fast-moving consumer goods (FMCGs) sector that rely on imported inputs, in the period under review, she said the increase in the Company’s operating profit was an indication that the growth strategies that it has put in place are yielding fruit.

    “We operate in a challenging environment that requires a degree of creativity and tenacity to remain in business,” Adeboye added. “Despite the strong economic headwinds we faced during the year under review, Cadbury Nigeria remains committed to delivering value for its various stakeholders and we shall continue to put our consumers at the heart of what we do.”

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    Meanwhile, Cadbury Nigeria was rated number one Top Employer in Nigeria by the Amsterdam based Top Employers Institute, recently. Cadbury Nigeria was rated number two last year in Nigeria and recognised with the prestigious Top Employer certification as a Regional Top Employer in Africa, for the third consecutive year.

    Commenting on this award, Adeboye said: “As we celebrate this milestone, we remain focused on the future, our commitment to excellence, and innovation. The well-being of our people will continue to drive us forward. We are excited about the opportunities that lie ahead and the positive impact we make together.”

    She added that the Company is focused on nourishing and delighting consumers with the right snacks and remains committed to its stakeholders.

    Wole Odubayo, Human Resources Director, Cadbury Nigeria, who dedicated the award to the employees of the Company, added: “You are the force behind our success, and we are immensely proud to have you as part of the Cadbury Nigeria family.”

    Top Employers Institute is the global authority on recognising excellence in People Practices. Through the Institute’s Certification Programme, participating companies can be validated, certified, and recognised as an employer of choice.

    The Top Employers Institute programme certifies organisations based on the participation and results of their HR Best Practices Survey. This survey covers six HR domains consisting of 20 topics including People Strategy, Work Environment, Talent Acquisition, Learning, Diversity, Equity and Inclusion, Wellbeing and more. Being certified as a Top Employer showcases an organisation’s commitment to creating a better work environment for its employees.

  • Cadbury Nigeria improves profitability despite forex loss

    Cadbury Nigeria improves profitability despite forex loss

    • ’Best employer in Nigeria’

    The board of Cadbury Nigeria Plc has said that ongoing growth strategies have been yielding impressive results with the company’s operating profit rising by 4,228 per cent to N8.4 billion in 2023.

    Key extracts of the unaudited report and accounts of Cadbury Nigeria for the year ended December 31, 2023 showed that the company recorded a turnover of N80.38 billion in 2023, 46 per cent increase on audited report of N55.21 billion in 2022. Gross profit rose from N7.72 billion in 2022 to N17.79 billion in 2023, an increase of 130 per cent. Operating profit jumped from N194.06 million to N8.4 billion. However, with foreign exchange losses, the company closed 2023 with loss of N27.63 billion as against pre-tax profit of N1.3 billion in 2022.

    Managing Director, Cadbury Nigeria Plc, Oyeyimika Adeboye, said the company has sustained its current growth trajectory, despite the difficult operating environment in the country, due to its resilience as well as focus on revenue and cost management.

    According to her, the massive devaluation of the naira impacted negatively on businesses particularly operators in the fast-moving consumer goods (FMCGs) sector that rely on imported inputs.

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    She noted that the increase in the company’s operating profit was an indication that the growth strategies that it has put in place are yielding fruit.

    “We operate in a challenging environment that requires a degree of creativity and tenacity to remain in business. Despite the strong economic headwinds we faced during the year under review, Cadbury Nigeria remains committed to delivering value for its various stakeholders and we shall continue to put our consumers at the heart of what we do,” Adeboye said.

    She pointed out that Cadbury Nigeria was rated number one top employer in Nigeria by the Amsterdam-based Top Employers Institute recently. Cadbury Nigeria was rated number two last year in Nigeria and recognised with the prestigious Top Employer certification as a Regional Top Employer in Africa, for the third consecutive year.

    Adeboye described the award as a milestone and assured that the company remained focused on the future with commitment to excellence and innovation.

    “The well-being of our people will continue to drive us forward. We are excited about the opportunities that lie ahead and the positive impact we make together,” Adeboye said.

    She added that the company is focused on nourishing and delighting consumers with the right snacks and remains committed to its stakeholders.

    Human Resources Director, Cadbury Nigeria, Wole Odubayo, dedicated the award to the employees of the company.

    “You are the force behind our success, and we are immensely proud to have you as part of the Cadbury Nigeria family,” Odubayo said.

    Top Employers Institute is the global authority on recognising excellence in people practices. Through the institute’s certification programme, participating companies can be validated, certified, and recognised as an employer of choice.

    The Top Employers Institute programme certifies organisations based on the participation and results of their HR Best Practices Survey. This survey covers six HR domains consisting of 20 topics including people strategy, work environment, talent acquisition, learning, diversity, equity and inclusion, wellbeing and more. Being certified as a Top Employer showcases an organisation’s commitment to creating a better work environment for its employees.

    Corporate Communications and Government Affairs Manager for West Africa, Cadbury Nigeria, Frederick Mordi, pointed out that the company had also won awards in five categories at the Chartered Institute of Personnel Management (CIPM) Awards, which took place in Abuja. The award categories were strategic HR initiatives; talent acquisition; employee service and administration; diversity and inclusion; and HR policy development and implementation.

    Mordi added that Cadbury Nigeria also received three awards at the HR People Magazine Awards in 2023.

    Cadbury Nigeria is a subsidiary of Mondelez International, which owns 74.99 per cent majority equity stake.

  • Cadbury Nigeria bounces back to profit

    Cadbury Nigeria Plc appeared to have weathered the storm of its recent losing streak as the company witnessed a turnaround in 2017. Cadbury Nigeria rode on the back of improved sales and reduced sales and administrative expenses to post a pre-tax profit of N350 million in 2017 as against a loss of N562 million in 2016.

    Key extracts of the audited report and accounts of Cadbury Nigeria for the year ended December 31, 2017 released yesterday at the Nigerian Stock Exchange (NSE) showed that sales rose from N29.98 billion in 2016 to N33.08 billion in 2017. Gross profit increased from N6.86 billion to N7.44 billion. Selling and distribution expenses reduced from N5.6 billion in 2016 to N5.23 billion in 2017 while administrative expenses improved considerably from N2.07 billion in 2016 to N1.59 billion in 2017.

    With these, the company posted a positive operating profit of N711.37 million in 2017 compared with operating loss of N732.85 million in 2016. The company however came under finance pressure as interest expense jumped from N17.8 million in 2016 to N545 million in 2017. After taxes, net profit stood at N299 million in 2017 as against net loss after tax of N296 million in 2016.

    The board of directors of the company has recommended distribution of N305 million as cash dividend to shareholders, representing a dividend per share of 16 kobo.

    Director, Corporate and Government Affairs, Cadbury West Africa, Bala Yesufu attributed the turnaround to the studious implementation of the company’s restructuring programme.

    “We have been working assiduously over the years to turnaround our loss situation. We are happy to announce that we finally realized our vision to reposition Cadbury for improved performance, in 2017,” Yesufu said.

    Cordros Capital described the results as “better than expected” noting that Cadbury Nigeria surpassed estimates for the fourth quarter.

    “We believe Cadbury Nigeria’s revenue growth in fourth quarter 2017 was largely volume-driven, as opposed to fourth quarter 2016 which was majorly on prices,” Cordros Capital stated.

    Mondelçz International, a global snacks powerhouse that holds 74.97 per cent equity stake in Cadbury Nigeria had in 2017 drafted its director of the innovation kids wholesome segment of its global biscuits business based in East Hanover, United States of America, Mr. Muhammad Amir Shamsi, to take over the leadership of the Nigerian subsidiary. Shamsi resumed on February 1, 2017.

    Shamsi was mandated to drive critical performance measures that could see Cadbury Nigeria regaining its declining market share. Shamsi, an experienced hand in West Africa, was the group’s marketing director for West Africa between October 2013 and March 2016. He had earlier served as head of new categories and Gum and Candy in West Africa between September 2012 and September 2013. He joined Mondelçz International in June 2009.

  • Cadbury Nigeria posts N296.4m loss

    •Turnover rises to N30b

    Cadbury Nigeria Plc recorded a modest growth in sales in 2016, but increased cost of sales and operating expenses constrained the bottom-line to a net loss of N296.4 million.

    Following the development, the Board of Directors  will not be recommending any dividend payment to shareholders. The company had distributed N1.22 billion as cash dividends for the 2015 business year.

    Key extracts of the audited report and accounts of Cadbury Nigeria Plc for the year ended December 31, 2016 released yesterday, showed that total sales rose by eight per cent from N27.83 billion in 2015 to N29.98 billion in 2016. Cost of sales however rose by 22 per cent from N18.89 billion to N23.12 billion. Gross profit thus dropped by 23 per cent from N8.93 billion in 2015 to N6.86 billion in 2016. While the company held down operating expenses, operating profit reversed from N1.42 billion in 2015 to a loss of N732.85 million in 2016.

    With these, the company’s pre-tax profit of N1.58 billion in 2015 was replaced with pre-tax loss of N562.87 million. After taxes, net loss stood at N296.40 million in 2016 as against a net profit of N1.15 billion in 2015. Earnings per share thus reversed from 61 kobo in 2015 to a loss per share of 16 kobo in 2016. Net assets per share also declined by 10 per cent from N6.54 in 2015 to N5.89 in 2016, with shareholders’ funds declining by the same margin from N12.3 billion in 2015 to N11.1 billion in 2016.

    Cadbury Nigeria had slipped into loss in the third quarter 2016, raising concerns over the worsening impact of sluggish sales and rising costs of operations. Turnover stood at N21.33 billion by third quarter 2016 as against N21.07 billion in third quarter 2015. The company however recorded a loss of N842.16 million in third quarter 2016 as against a modest pre-tax profit of N40.79 million in comparable quarter of 2015.

    Mondelçz International, a global snacks powerhouse that holds 74.97 per cent equity stake in Cadbury Nigeria recently drafted its director of the innovation kids wholesome segment of its global biscuits business based in East Hanover, United States of America, Mr. Muhammad Amir Shamsi, to take over the leadership of the Nigerian subsidiary.

    Shamsi resumed on February 1, 2017.

    Shamsi is expected to help drive critical performance measures that could see Cadbury Nigeria regaining its declining market share.

    Shamsi is an experienced hand in West Africa. He was the group’s marketing director for West Africa between October 2013 and March 2016. He had earlier served as head of new categories and Gum and Candy in West Africa between September 2012 and September 2013. He joined Mondelçz International in June 2009.

  • Cadbury reiterates commitment to Lagos State

    Cadbury reiterates commitment to Lagos State


    Management of Cadbury Nigeria has reiterated the company's commitment towards the development of Lagos State through various developmental initiatives. This was revealed during a courtesy call on the Executive Governor of Lagos State, Mr Akinwunmi Ambode by Cadbury Nigeria Leadership Team led by Managing Director Cadbury West Africa, Mr Roy Naaman, Finance Director, Mrs. Yimika Adeboye, Company Secretary/Chief Counsel, Mrs. Fola Akande, Manufacturing Director, Mr Nasir Malik, and Head Corporate and Government Affairs, Mr. Bala Yesufu. While expressing gratitude for the warm reception accorded to Cadbury Nigeria in the state, Managing Director, Cadbury West Africa, Mr Roy Naaman, maintained that Cadbury has enjoyed cordial relationship with the government and people of Lagos State over the years. “On our part, we shall remain a responsible corporate citizen of the state and continue to partner with the government through employment generation, participation in various developmental initiatives, contribution to the state treasury in different forms and stimulation of socio-economic activities in the state,” Naaman noted. In his remarks, Governor Ambode observed that Cadbury’s newly commissioned factory is good news for the Lagos economy and a boost to the states’ efforts to bringing investments to the state. “As a state, we have a duty to support Cadbury not just because you employ our citizens and the social responsibility activities you undertake, but to ensure we keep enjoying the quality and consistency your brands bring to our community,” Ambode stressed. Also speaking, Mr. Bala Yesufu, Head, Corporate & Government Affairs, Cadbury Nigeria, noted that the courtesy visit was not only to express appreciation to his Excellency for unveiling Cadbury state-of-the-art factory recently but was also  necessitated by the need to continually build, strengthen, nurture and sustain relationship with Government at all levels.