Cadbury Nigeria posts N126.69bn revenue, gross profit rises 32%

Cadbury Nigeria Plc recorded revenue of ₦126.69 billion in the nine months ended September 30, 2026, representing a six per cent increase from ₦119.25 billion reported in the corresponding period of 2025, as the consumer goods manufacturer improved profitability amid a challenging operating environment.

The company’s unaudited financial results, approved by its board of directors, showed that gross profit rose 32 per cent to ₦36.50 billion from ₦27.75 billion in the previous year, reflecting stronger growth in gross earnings than in turnover.

Profit before tax increased by five per cent to ₦14.48 billion from ₦13.82 billion, while profit for the period rose to ₦10.14 billion from ₦9.68 billion, representing a 4.8 per cent increase.

Basic earnings per share also improved by five per cent to 445 kobo from 424 kobo, indicating a modest increase in earnings attributable to each ordinary share.

The company’s total equity rose by 75.6 per cent to ₦23.56 billion from ₦13.42 billion, strengthening its equity position over the nine-month period.

In a statement announcing the results and awards, issued by Frederick Mordi, Head of Corporate Communications and Government Affairs, Ayman Fahmy Gaafar, Managing Director of Cadbury Nigeria, said the company had sustained growth despite the difficult business environment, adding that management would continue to focus on operational efficiency, cost management and product innovation.

“We will continue to build on our operational capabilities and strengthen cost management measures to enable us to achieve our business objectives and deliver more value for our stakeholders. We are also continuously innovating to meet the needs of the Nigerian consumer,” he said.

The performance comes against the backdrop of cost and pricing pressures facing manufacturers in Nigeria, where businesses continue to contend with elevated operating expenses and the need to maintain consumer demand.

The 32 per cent increase in gross profit, compared with the six per cent growth in revenue, suggests an improvement in the relationship between sales and the direct costs of goods sold. However, the company’s five per cent growth in profit before tax indicates that gains at the gross-profit level did not translate into a comparable increase in pre-tax earnings.

Further details of the company’s operating expenses and other income would be required to establish the factors behind the difference in growth rates.

Meanwhile, Cadbury Nigeria has strengthened its board following the appointment of Dr Doyin Salami as chairman in August, succeeding Adedotun Sulaiman, who resigned from the position.

The board also appointed Uwa Osa-Oboh as an independent non-executive director.

Salami, an economist who previously served as chief economic adviser to former President Muhammadu Buhari, was also chairman of the Presidential Economic Advisory Council. He has led the boards of several companies.

Osa-Oboh is head of corporate development at Capital Alliance Nigeria, a member of the African Capital Alliance Group, an investment management firm with interests across Africa.

The appointments come as the company seeks to sustain business performance and strengthen governance amid changing market conditions.

In a separate development, Cadbury Nigeria emerged as a leading winner at the Chartered Institute of Personnel Management of Nigeria’s Human Resources Oscars, securing awards in three categories.

The company won in Talent Acquisition, Adoption of Technology, and Employee Engagement and Internal Communication, where it recorded a perfect score of 100 per cent.

The awards were presented in Abuja as part of the CIPM’s annual International Conference and Exhibition, which brings together human resources professionals and other industry stakeholders.

According to the company, the recognition provides external validation of its human resources practices, particularly in recruitment, technology adoption, employee engagement and internal communication.

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The awards also highlight the growing importance of workforce management and technology in supporting business operations, employee experience and organisational performance.

For Cadbury Nigeria, the combination of higher gross profit, increased earnings and recognition for its people-management practices provides a backdrop for management’s stated focus on operational capabilities, cost discipline and innovation.

The company said it would continue to develop products that meet the needs of Nigerian consumers while pursuing its business objectives and delivering value to stakeholders.