Cadbury Nigeria Plc has disclosed an operating profit of N8.397 billion for the fiscal year concluded on December 31, 2023.

As per the audited financial statement filed with the Nigerian Exchange Limited, Cadbury Nigeria Plc achieved a remarkable 4,228% surge in operating profit, reaching N8.397 billion for the year ended December 31, 2023, compared to N194 million recorded in the same period in 2022.

Simultaneously, the company earned recognition as the number one Top Employer in Nigeria by the Amsterdam-based Top Employers Institute.

The gross profit of the company also witnessed a notable 130% increase, rising to N17.790 billion in 2023 from N7.723 billion in 2022. Additionally, revenue showed a significant uptick, climbing by 46% to N80.379 billion during the review period, compared to N55.213 billion in 2022.

In response to these achievements, Oyeyimika Adeboye, Managing Director of Cadbury Nigeria, emphasized the company's ability to maintain its growth trajectory despite the challenging business environment in the country. She attributed this success to the company's resilience and strategic focus on revenue and cost management.

Highlighting that the substantial devaluation of the Naira adversely affected businesses, especially those in the fast-moving consumer goods (FMCGs) sector reliant on imported inputs, during the period reviewed, she remarked that the surge in the company's operating profit signifies the success of the growth strategies implemented.

In the face of the latest news, including reports of 88.4 million people in Nigeria living in extreme poverty according to the Ministry of Agriculture, the decision for former UK pop star Gary Glitter to remain in prison after a failed parole bid, and Ondo 2024 candidate Jimoh Ibrahim's commitment to addressing insecurity through technology, the company's positive financial performance stands out. Additionally, news of a fire destroying an Ebonyi night club and the call by the House of Representatives to enforce laws on the indiscriminate use of sirens by FRSC and police underscores the challenges faced in various sectors.