Afrigather Cadbury Nigeria, a meals, sweets and drink firm in Nigeria, has recorded an after-tax lack of N11.9 billion within the first 9 months of 2024 on account of big value of operations, BusinessDay evaluation exhibits.
The patron items agency recorded an after-tax loss amounting to N11.9 billion within the 9 months of 2024, from an after-tax lack of N10.2 billion in the identical interval of 2023.
Additional evaluation reveals that the agency recorded a rise in value of gross sales to N74.8 billion from N42.9 billion whereas web finance value grew to N23.2 billion from N19.9 billion.
The agency’s whole income grew to N89.5 billion from N59.2 billion. Income was obtained from home gross sales which amounted to N78.9 billion and export gross sales (N10.7 billion).
Cadbury Nigeria’s finance revenue dropped to N343.8 million from N1.79 billion throughout the interval reviewed.
The agency’s different revenue grew to N1.12 billion in 9 months of 2024 from N66.6 million in the identical interval of 2023.
Cadbury Nigeria Plc introduced the appointment of Oyeyimika Adeboye as its new managing director, efficient April 1, 2019.
In response to an announcement by the agency, Adeboye makes historical past as the primary lady to guide the corporate in over 5 a long time since its institution.
Learn additionally: Listed below are 5 highlights from Cadbury Nigeria’s first-half outcomes
Adeboye takes over from Amir Shamsi, who has moved to a brand new function inside Mondelēz Worldwide, Cadbury Nigeria’s father or mother firm. Underneath Shamsi’s management, Cadbury Nigeria witnessed vital progress, significantly in driving top-line, and bottom-line progress, and fostering expertise growth.
In her new function, Adeboye brings a wealth of expertise in finance, technique, and enterprise administration, honed each in Nigeria and the UK.
She joined the Cadbury Nigeria board in November 2008 because the finance and technique director for West Africa. Her profession earlier than Cadbury contains serving as director of finance and chief monetary officer for Nigerian Bottling Firm Plc, in addition to roles in accounting and tax practices at Arthur Andersen & Co. and Midgley Snelling & Co. within the UK.
She is a fellow of the Institute of Chartered Accountants in England and Wales and a member of the Institute of Chartered Accountants in Nigeria. She holds a Bachelor of Science diploma in Economics and Social Research from College Faculty Cardiff, Wales, and government administration training from the Institute of Administration Improvement (IMD) in Lausanne, Switzerland.
Alongside her promotion, Ogaga Ologe has been named as the brand new Finance Director. Ologe, who joined Cadbury Nigeria in 2012 from KPMG Skilled Companies, succeeds Adeboye on this place. He holds a Bachelor of Science in Physics from Delta State College and is a certified Chartered Accountant.
Within the agency’s 9 months monetary books, inventories grew to N18.26 billion in September 2024 from N11.94 billion in December 2023. Commerce and different receivables rose to N9.45 billion from N7.32 billion throughout the identical interval.
