Tag Archives: Cadbury

Cadbury Nigeria sustains growth momentum in nine months

Cadbury Nigeria building

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 posts half-year profit rise, recovering from 2018 loss

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.

Cadbury Nigeria assures shareholders of commitment to creating more value for investors

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.

Cadbury, OK Foods Slug it Out in Court Over Trademark Rights

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 off to a strong start in 2019 on higher sales, steep drop in net finance charge

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 names Oyeyimika Adeboye as new Managing Director, Ogaga Ologe as Finance Director

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 sustains growth momentum at full year

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.

Cadbury collaborates with UNHC, donates Bournvita to IDP camps

Cadbury Nigeria Plc has announced the donation of Bournvita products, its flagship brand to some Internally Displaced Persons (IDP) camps in Nigeria, working in collaboration with the United Nations High Commission for Refugees.

In a statement, the company’s Corporate and Government Affairs Director for West Africa, Mr Bala Yesufu, said Cadbury was moved to make the donation by the plight of IDPs living in various camps in the country.

Cadbury Nigeria celebrates 30 employees with long service

Cadbury Nigeria Plc has celebrated some of its employees that have been with the company for a long time during its annual Long Service Awards.

The Director, Corporate and Government Affairs, West Africa, Bala Yesufu, said in a statement that Cadbury rewarded 30 employees for their length of service to the organization.

Giving a breakdown of the awardees, Yesufu said that 18 of the employees had spent more than 10 years with the company; nine employees were in the 20 years category; while three awardees had at least 30 years length of service with the firm. He added that 11 out of the 18 awardees in the 10 years category were from the company’s Ondo plant.

Cadbury Nigeria rebounds to profit on higher sales, cost cutting

Struggling Cadbury Nigeria Plc jumped back into the black in the nine-months to the end of September, helped by rising sales and cost cutting.

The Bournvita maker reported a net income of ₦172m reversing a net loss of ₦64m from the same period a year earlier.

Sales in the 9-months to the end of September rose 11% to ₦26.9bn, with the growth accelerating in the third quarter by 16.1% to ₦9.4bn from ₦8.1bn.