Pre-tax profit for FMCG company Cadbury Nigeria Plc was N4.30 billion in Q3 2023, up 533.4% year over year from N678.4 million in Q3 2022.
The Times reported that the revenue for Q3 2023 was N23.59 billion, a noteworthy 60.9% increase over the same quarter in 2022, according to the company’s financial filings for the period ended September 30, 2023.
The company’s operational profit for the third quarter of 2023 was N3.58 billion, and its operating margin for the same period in 2022 was 18.4%. This is a 4048 basis point gain.
The company’s large pre-tax losses from the second quarter of the year were somewhat offset by the pre-tax profit it made in the third quarter of 2023.
The company’s revenue for the nine months that ended on September 30, 2023, was N59.2 billion, up 39% from the N42.5 billion earned during the same time in 2022.
But throughout the course of the nine months, the corporation reported pre-tax losses of N10.24 billion, a 355% decrease from the amount reported in the equivalent quarter of 2023.
Key Highlights Q3 2023 vs Q3 2022
Revenue: N23.59 billion, +60.9% YoY
Cost of sales: N17.52 billion, +44.3% YoY
Selling and distribution expenses: N1.83 billion, +14% YoY
Other income: N59.56 billion, +9.6% YoY
Gross Profit: N6.08 billion, +141% YoY
Operating profit: N3.58 billion, +672.1% YoY
Profit before tax: N4.30 billion, +533.4% YoY
Profit after tax: N4.30 billion, +804.8% YoY
Basic earnings per share: N228.78, +805% YoY
Total assets: N76.45 billion, +28.02% YTD
