Cadbury Nigeria reports 10% decline in full year revenue while Unilever Nigeria registers 2% top-line growth

NIGERIA – Cadbury Nigeria, subsidiary of snack and confectionery firm Mondelez International has reported a 10% decline in full year revenue for the period ended December 2020, to N35.41 billion (US$86.5m). The decline, according to Naira Metrics was occasioned by the decrease in domestic and export sales, spearheaded by the impact of COVID-19, which further affected its profits. The maker of hot chocolate beverage suffered an 83% decline in profit to N172.67 million (US$422,000). Cadbury’s profitability thrives on high volume and high revenue as FMCG profit margins are usually rather…

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Cadbury Nigeria appoints two new Non-Executive Directors

NIGERIA – Cadbury Nigeria, subsidiary of snack and confectionery firm Mondelez International has announced the appointment of Mrs Kofoworola Akinkugbe and Ms. Nadia Mohamme as Non-Executive Directors. These appointments, according to Naira Metrics will be effective 1st January 2021, subject to ratification at the company’s next Annual General Meeting (AGM) in 2021. Mrs. Kofoworola Akinkugbe is the founder of Interface Technologies (1998), SecureID Limited (2005), and SecureCard Manufacturing (2012). She sits on the Boards of the Manufacturers’ Association of Nigeria, Fintech Association of Nigeria Sokoa Chair Centre Limited, ICS Outsourcing…

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Cadbury Nigeria Plc appoints Adedotun Sulaiman as new board chairman

NIGERIA – West Africa’s snack manufacturing giant, Cadbury Nigeria Plc has announced the appointment of Mr. Adedotun Sulaiman, as the new Chairman of its Board of Directors, effective immediately. Mr. Sulaiman, will replace Mr Atedo Peterside who stepped down as Board chairman on June, this year. Mr. Sulaiman assumes Cadbury Nigeria’s Board leadership with almost 40-years’ experience in strategic plan development, organisation design, human resource management, technology planning and process re-engineering. The renowned management and strategy consultant was first appointed into the Board of Cadbury Nigeria Plc as a Non-Executive Director…

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Cadbury Nigeria donates to the COVID-19 food banks in Nigeria to alleviate the effects of the pandemic

NIGERIA – Cadbury Nigeria, subsidiary of snack and confectionery firm, Mondelez International has donated its cocoa powder beverage brand, Bournvita, to food banks created by states to ease the effects of the coronavirus on the citizens. A statement from the company added that it donated face masks among other products to its host community at Agidingbi, Ikeja, Lagos. It stated that the beneficiary states include Lagos, Rivers, Ondo, Ekiti, Oyo, Plateau and the Federal Capital Territory, Abuja. The Managing Director of Cadbury Nigeria, Mrs Oyeyimika Adeboye, noted that the company…

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Cadbury Nigeria approves continued partnership with Mondelez International

NIGERIA – Cadbury Nigeria’s board of directors have approved continued partnership with Mondelez International for an extended period of one year. The directive mandates the company’s management to continue business transactions with Mondelez International and all its subsidiaries and partners, as well as those associated with Cadbury Nigeria Plc itself. The board members also ratified all existing transactions that were earlier entered into with Mondelez International, its subsidiaries, and other business partners. The nature of these transactions between the two companies range from purchase of raw materials, equipment and finished…

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Cadbury Nigeria posts 26% rise in first quarter profit despite 8% decline in revenue

NIGERIA – Cadbury Nigeria, subsidiary of snack and confectionery firm, Mondelez International has released its unaudited financial statement for the first quarter period ended March 31st, 2020. According to the interim financial statement, the company’s profit before tax for the period rose by 26% to N912.7 million (US$2.5m) compared to N723.9 million (US$2m) achieved in Q1 2019. The Bournvita maker’s profit after tax equally rose by 26% to N638.9 million (US$1.7m) from N506.7 million (US$1.4m) recorded in the same period in 2019. However, the company’s revenue for the quarter declined by 8% to…

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Cadbury Nigeria appoints Nigel Parsons as Non-Executive Director

NIGERIA – Cadbury Nigeria Plc, subsidiary of snack and confectionery firm Mondelez International has announced the resignation of a Non-Executive Director, Mr Gawad Abaza and the appointment of Mr Nigel Parsons as his replacement. This was disclosed in a notification, which was signed by the Company Secretary, Fola Akande, and sent to the Nigerian Stock Exchange (NSE) and the investing public. As a show of appreciation, the Chairman and the Board of Directors of Cadbury Nigeria Plc expressed their gratitude to Mr Abaza for his services and immense contributions towards…

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Cadbury Nigeria beats market estimates as full year revenue climb 9.3% to US$108m

NIGERIA – Cadbury Nigeria Plc, subsidiary of snack and confectionery firm Mondelez International reported a 9.3% increase in Revenue to N39.3bn (US$108m) in its unaudited 2019 Financial results from N36.0bn (US$98.9m) of 2018. Revenue within the quarter recovered, growing 10.1% q/q to N10.4bn (US$28.5m) in Q4 2019. Reported Revenue came in higher than the company’s estimate of N38.9bn (US$106.9m) by 1.2%. The growth was driven by broad-based recovery in Refreshment Beverages (+8.3% y/y) and Confectioneries (+20.5% y/y) while Intermediate Cocoa Products (-7.2% y/y) continued to lag. Cost of Sales grew…

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Cadbury Nigeria posts 277% rise in third quarter profit driven by growth in revenue

NIGERIA – Cadbury Nigeria Plc, subsidiary of snack and confectionery firm Mondelez International reported a 277% jump in profits to N648m (US$1.8m) in the nine months to end of September 2019 from N172m (US$0.475m) reported in the same period in 2018. The profit growth was driven by a 7% rise in revenue to N28.9bn (US$79.9m) from N26.9bn (US$74.4m). The company also benefitted from a tepid rise in cost of sales to N23bn (US$63.6m) from N21.6bn (US$59.7m) and administration expense which rose marginally by 2%. Cadbury Nigeria noted that the last…

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Cadbury Nigeria posts 258% rise in half-year profit driven by growth in sales

NIGERIA – Cadbury Nigeria Plc, subsidiary of snack and confectionery firm Mondelez International, reported a 258% jump in profits to N68.2m (US$0.19m) in the first six months of 2019. The company, which posted net loss of N318m (US$0.88m) in a similar period the previous year, said that the impressive result was driven by an 11% growth in sales and prudent cost management initiatives. According to a Beverage Industry News report, the Bournvita maker saw its cost of sales rise by a marginal 3.88% and a nearly 80% decline in net…

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