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Cadbury Nigeria Reports Staggering Pre-Tax Loss of N28.2 Billion

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Cadbury Nigeria,Pre-Tax Loss,Fiscal Year

Cadbury Nigeria Plc, a leading manufacturer of refreshment beverages and confectionery, reported a staggering pre-tax loss of N28.2 billion for the fiscal year ended December 2023. Despite achieving a 46% increase in revenue, the company faced a dire financial situation due to a massive foreign exchange loss.

Cadbury Nigeria Plc, a leading manufacturer of refreshment beverages and confectionery, reported a staggering pre-tax loss of N28.2 billion for the fiscal year ended December 2023. This marks a significant downturn from the N1.3 billion pre-tax profit recorded in the previous year, indicating a decline of 2269%. Despite achieving a 46% increase in revenue, reaching N80.4 billion up from N55.2 billion in 2022, the company faced a dire financial situation .

The growth in revenue was overshadowed by a massive foreign exchange loss of N36.9 billion, leading to a retained loss of N11.4 billion and plunging the company into negative equity of N6.5 billion. Financial Highlights of FY 2023 Compared to FY 2022 Revenue saw a significant rise to N80.4 billion, up by 46% year-over-year. The cost of sales was N63.0 billion, reflecting a 33% increase. Gross profit surged to N17.3 billion, marking a 124% increase. Operating profit stood at N7.9 billion, up by an astonishing 3957

Source: News Formal (newsformal.com)

Cadbury Nigeria Pre-Tax Loss Fiscal Year Revenue Financial Situation

 

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