By ebosele@hotmail.com –
Cadbury Nigeria Plc has reported an 8 per cent increase in revenue for the first half of 2026, posting N83.35 billion despite a decline in profitability caused by high operating costs and weak consumer demand.
The company’s unaudited financial statements, approved by its Board of Directors, showed that revenue rose from N77.25 billion recorded in the corresponding period of 2025 to N83.35 billion in the first six months of 2026.
Gross profit also improved by 10 per cent, increasing from N21.86 billion in H1 2025 to N24.12 billion during the review period.
However, profit after tax declined by 20 per cent to N8.10 billion, compared with N10.17 billion reported in the first half of 2025.
Commenting on the performance, the Managing Director of Cadbury Nigeria Plc, Ayman Fahmy Gaafar, said the company continued to navigate a challenging business environment marked by high operating costs, including increased freight expenses, while slow consumer demand also weighed on profitability.
He noted, however, that the favourable foreign exchange environment significantly reduced the company’s net finance cost by 89 per cent, from N1.74 billion in H1 2025 to N187 million in the period under review.
“Despite these challenges, Cadbury Nigeria remains committed to delivering value to its stakeholders and will continue to drive business fundamentals, while increasing its Go-to-Market (GTM) capabilities,” Gaafar said.
The company had in May appointed Gaafar as its new Managing Director to lead its operations and accelerate market expansion across the West African region.
Before joining Cadbury Nigeria, Gaafar built an extensive career with several multinational companies, including Procter & Gamble, where he rose to the position of Commercial Vice President for Nigeria, delivering strong double-digit business growth.
He is recognised for establishing operations, transforming distribution models and scaling businesses across multiple markets. His expertise spans Go-to-Market transformation, capability development and organisational culture, with achievements that include quadrupling direct distribution coverage in Egypt and building high-performing teams across Africa, the Middle East and Asia.
According to the company, his appointment reflects the continued commitment of Mondelēz International to strengthening its leadership and market presence across Sub-Saharan Africa.
The financial result
s were announced in a statement issued by the company’s Head of Corporate Communications and Government Affairs, Frederick Mordi.
