The company achieved N51.44bn revenue in the first half of the year, marking a 44 per cent increase from the N35.61bn recorded in 2023, buoyed by the refreshment beverages and confectionery segments, which saw increases of 26 per cent and 68 per cent to N31.39bn and N4.35bn, respectively, during this period.

Despite revenue growth, Cadbury Nigeria’s gross profit declined by six per cent to N9.59bn from N10.23bn in 2023, due to higher production costs and competitive pricing pressures.

Results from operating activities fell by 22 per cent, from N6.07bn to N4.73bn in the corresponding year.

Cadbury Nigeria reported a net finance cost of N18.61bn, a five per cent decrease from the N20.99bn incurred in 2023, linked to foreign exchange losses and interest expenses on borrowings.

The company loss before tax in H1 2024 was N13.88bn, compared to N14.54bn in the prior period of last, representing a five per cent improvement.

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