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Cadbury Nigeria grows gross earnings by 30% to N55.2b in 2022



Cadbury Nigeria gives reasons for proposed debt to equity conversion

Cadbury Nigeria Plc, a subsidiary of Mondelēz International, recorded gross earnings of N55.21 billion for the full year ended December 31, 2022.

The turnover represents 30 per cent growth when compared to the N42.37 billion posted in the same period in 2021.

The company disclosed this in its annual report and financial statements as corporate disclosure to Nigerian Exchange Ltd., (NGX) on Tuesday in Lagos.

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According to the company, its profit before tax grew from N1.097 billion in 2021 to N1.298 billion in 2022, representing an increase of 18 per cent.

The company also said that it recorded total assets of N59.713 billion, which represents an increase of 31.55 per cent when compared to N43.688 billion recorded in 2021.

The company also reported a gross profit of N7.72 billion as against N6.48 billion posted in 2021, representing 19 per cent growth.

It also recorded a net operating profit of N194 million and a net interest income of N1.1 billion respectively. nan



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