In a remarkable turnaround, Cadbury Nigeria Plc has announced a N2 billion pre-tax profit for the fourth quarter (Q4) of 2024, signaling a strong recovery for the confectionery giant. This impressive performance comes alongside a 47% reduction in its full-year loss, marking a significant step forward in the company’s financial restructuring efforts.
Thank you for reading this post, don't forget to subscribe!Naija247news gathered that the company’s Q4 results, released on Tuesday, reflect a robust recovery from the challenges that plagued its operations in the previous quarters. The N2 billion pre-tax profit represents a dramatic improvement compared to the losses recorded earlier in the year, underscoring the effectiveness of cost-cutting measures and strategic realignments implemented by management.
According to Naija247news, Cadbury Nigeria’s full-year loss for 2024 stood at N5.6 billion, a 47% decrease from the N10.6 billion loss reported in 2023. This reduction is attributed to a combination of factors, including improved operational efficiency, better inventory management, and a focus on high-margin product lines.
Naija247news understands that the company’s management has been working tirelessly to navigate the harsh economic environment, which has been characterized by rising inflation, foreign exchange volatility, and declining consumer purchasing power. These efforts appear to be paying off, as evidenced by the improved financial performance in Q4.
Industry analysts have lauded Cadbury Nigeria’s resilience in the face of adversity. “The company’s ability to cut its losses by almost half within a year is commendable,” said financial analyst Tunde Oladipo. “This turnaround demonstrates that Cadbury is on the right path, and if sustained, it could return to profitability in the near future.”
Naija247news reports that the company’s share price reacted positively to the news, rising by 8% on the Nigerian Exchange (NGX) following the announcement. Investors have expressed optimism about the company’s prospects, with many anticipating further improvements in the coming quarters.
Cadbury Nigeria’s management has expressed confidence in the company’s ability to build on this momentum. In a statement, the company said, “We remain committed to delivering value to our shareholders and stakeholders. The progress made in 2024 is a testament to the hard work and dedication of our team, and we are optimistic about the future.”
As Cadbury Nigeria continues its recovery journey, all eyes will be on its ability to sustain this positive trajectory in 2025. For now, the N2 billion pre-tax profit in Q4 serves as a beacon of hope for a company determined to reclaim its position as a leader in Nigeria’s fast-moving consumer goods (FMCG) sector.
