‎Cadbury Nigeria posts N83bn revenue in H1 2026 amid cost pressures

By Chioma Obinagwam
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‎Cadbury Nigeria’s board has approved H1 2026 results showing an 8 percent revenue jump to N83.35 billion, even as high freight costs and weak demand pushed profit down 20 percent, Confiance News has learned.
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‎Cadbury Nigeria Plc has posted a revenue of N83.35 billion for the first half of 2026, Confiance News has confirmed, marking an 8 percent increase over the N77.25 billion recorded in the same period of 2025.
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‎The figures, sighted by Confiance News, followed the approval of the company’s unaudited financial statements by its Board of Directors on July 30, 2026.
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‎According to the results, gross profit rose by 10 percent to N24.12 billion in H1 2026, up from N21.86 billion posted in H1 2025. However, profit after tax declined by 20 percent to N8.10 billion, down from N10.17 billion in the corresponding period last year.
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‎Speaking on the results, Managing Director Ayman Fahmy Gaafar attributed the profit decline to persistently high operating costs, driven largely by increased freight expenses, as well as slower consumer demand that weighed on profitability during the first six months of the year.
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‎He noted, however, that a favourable foreign exchange environment helped cut net finance costs by 89 percent, from N1.74 billion in H1 2025 to N187 million in the period under review.
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‎”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, in a statement issued by the company’s Head of Corporate Communications and Government Affairs, Frederick Mordi.
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‎New MD’s appointment aimed at accelerating West Africa expansion
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‎Confiance News gathered that Gaafar was appointed Managing Director of Cadbury Nigeria in May 2026, tasked with driving the company’s operations and accelerating its market expansion across West Africa.
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‎Before joining Cadbury Nigeria, Gaafar held several roles at Procter & Gamble, rising to the position of Commercial Vice President for Nigeria, where he delivered strong double-digit growth.
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‎Industry sources note that he brings a track record of building distribution systems and scaling operations across complex, multi-market environments, having previously quadrupled direct distribution coverage in Egypt and led teams across Africa, the Middle East, and Asia.
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‎His appointment, the company said, reflects Mondelēz International’s continued push to strengthen its leadership and market presence across Sub-Saharan Africa.
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‎Cadbury Nigeria is a 79.39-percent-owned subsidiary of Mondelēz International, with the remaining 20.61 percent held by indigenous, individual, and institutional investors. Its portfolio includes Bournvita, Hot Chocolate 3-in-1, TomTom, Buttermint, and Clorets, which remain market leaders in their segments.
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