Cadbury Nigeria Plc has announced the appointment of Mr Nigel Parsons to its Board as a Non-Executive Director.
In a statement, the company said that Mr Parsons appointment which takes effect from April 1, 2020 will fill the casual vacancy created by the resignation of Mr Gawad Abaza from the company’s Board on April 1, 2020. Mr Abaza had been on the company’s Board since 2016 and had served on a number of Board committees.
Oreo cookie, one of the brands of Mondelez International, the parent company of Cadbury Nigeria Plc, has made it into the Guinness World Records.
In a statement, Cadbury Nigeria noted that the Oreo cookie brand reached a major milestone of $3.1bn in annual net revenues by the end of 2019.
Cadbury Nigeria Plc on Thursday reported higher sales and profit for the full-year 2019.
The beverage giant said that sales grew by 16% in Q4 to $10.4bn and by 9.3% in full-year to $39.3bn.
Gross Profit grew by 3% in the twelve months to $8.2bn, driven by an 11% increase in cost of sales. Costs jumped by 27% in Q4 resulting in an 11% decline in gross profit for the quarter.
Cadbury Nigeria Plc reported higher profits in the nine months to the end of September, with earnings rising to N648m from N172m in the same period in 2018.
The profit growth was driven by a 7% rise in revenue to N28.9bn from N26.9bn. The company also benefitted from a tepid rise in cost of sales to N23bn from N21.6bn and administration expense which rose marginally by 2%.
Cadbury Nigeria Plc said its net profit rose by 258% to N68.2m in the first six months of 2019, erasing a net loss of N318m it incurred in the same period in 2018.
The Bournvita maker said that the good result was driven by an 11% growth in sales, prudent cost management initiatives which saw cost of sales rise by a marginal 3.88% and a nearly 80% decline in net finance cost.
Revenue rose to N19.5bn from N17.5bn in the previous year.
The Board of Directors of Cadbury Nigeria Plc at its recent Annual General Meeting (AGM) held in Lagos reaffirmed to shareholders of its commitment to creating more value for investors.
The Board restated its commitment to sustaining the company’s dividend policy as shareholders approved the distribution of N471 million as cash dividend for the 2018 business year. Shareholders will receive 25 kobo per share for the 2018 financial year compared to 16 kobo per share in 2017.
Two Fast moving Consumer goods (FMCG) giants, OK Foods Limited and Cadbury UK Limited have gone to court to decide who has the rights to a trademark.
OK Foods Limited, a unit of Olam Foods International and makers of a wide range of confectionary products including Top Mint Candy sweet has filed a N260 million suit in a Lagos court against Cadbury UK Limited, owners of Tom Tom Candy sweets over threats emanating from the use of generic trade dresses, colours and shapes in the production of Top Mint Candy sweet.
Cadbury Nigeria Plc got off to a strong start in 2019 with a 2,200% jump in net profit in the first quarter, driven by higher sales and lower finance charge.
The Bournvita maker said that first quarter sales grew by 13% to N9.2bn from N8.2bn in the previous year.
Gross Profit grew 32% to N2.4bn, while Operating Profit jumped 236% to N714m from N213m. Finance cost fell sharply by 87% thus providing a boost to net income which rose to N507m from N22m in 2018.
Cadbury Nigeria Plc on Tuesday announced the appointment of Mrs Oyeyimika Adeboye as the company’s new Managing Director effective 1st April 2019. Mrs Adeboye takes over from Mr Amir Shamsi, who will take on a new role within Mondelēz International, the parent company of Cadbury Nigeria.
Mrs Adeboye would be the first woman Managing Director in Cadbury Nigeria history. Her appointment attests to the Company’s commitment to promoting gender equality, diversity and inclusion.
Cadbury Nigeria Plc reported a net earnings growth of 174% in 2018. Profit skyrocketed to ₦823m from ₦300m in 2017. The leap in profit was helped by a 9% sales growth to ₦35.9 from ₦33bn, with its flagship Bournvita and 3-in-1 Hot Chocolate, which contributed 59% of Group sales recording 17.55% sales increase.
