Cadbury Nigeria PLC reported a pre-tax profit of N2 billion for the fourth quarter of 2024 in its recently released financial statement on the Nigerian Exchange (NGX) on January 27, 2025.
This marks a recovery of 111.73% from the pre-tax loss of N17.3 billion reported in 2023, effectively reducing the full-year pre-tax loss from N28.1 billion in FY 2023 to N14.8 billion for FY 2024.
In terms of revenue, the fourth quarter witnessed a significant surge of 87.28% year-on-year, reaching N39.6 billion, compared to N21.1 billion in the same quarter of the previous year.
As a result, total revenue for fiscal year 2024 reached N129.1 billion, marking a 60.73% increase from N80.3 billion in FY 2023, with domestic sales comprising a significant portion of this total.
The company reported a revenue of N129.1 billion in FY 2024, a notable increase of 60.73% from N80.3 billion in FY 2023, with domestic sales contributing 88.5% of this figure.
Other income took a sharp downturn, falling from N72.5 million in FY 2023 to a loss of N1.5 billion in FY 2024.
On a positive note, selling and distribution expenses saw a commendable decrease of 15.21%, dropping from N7.3 billion to N6.2 billion.
However, operating income did experience an 18.64% decline, slipping to N6.4 billion from N7.8 billion in FY 2023.
In financial terms, the company excelled by significantly reducing net finance costs by 40.88%, bringing them down to N21.3 billion from N36 billion.
Cadbury also achieved a strong turnaround in its full-year pre-tax loss, which decreased by 47.10% from N28.1 billion to N14.8 billion.
The company posted total assets of N64.5 billion as of December 31, 2024, marking a 1.82% increase from N63.4 billion in 2023.