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General News of Saturday, 18 June 2022


Cadbury Nigeria’s repositioning drive yielding results

Cadbury Cadbury

Ongoing repositioning strategy at Cadbury Nigeria Plc has continued to enhancing the company’s competitiveness, leading to improved results.

Chairman, Cadbury Nigeria Plc, Mr. Adedotun Sulaiman, who spoke at the company’s 57th Annual General Meeting (AGM) in Lagos, said the company has been able to expand its route-to-market capabilities, enter new segments in the candy category, and deployed new technology that will improve its business operations.

Managing Director, Cadbury Nigeria, Oyeyimika Adeboye however noted that the company faced huge challenges in sourcing foreign exchange (forex) for importation of key raw and packaging materials as well as machinery and spare parts.

“Our cost of doing business has increased significantly as our suppliers also faced similar issues in accessing foreign exchange.

“With rising inflation and higher cost of doing business, we have had to take price adjustments on a number of our products during 2021. This is more than we have ever had to do in many years, and a reflection of the difficult times we currently face,” Adeboye said.

She pointed out that in spite of the supply challenges; the company witnessed a strong performance across all categories and brands.

“We place a high value on our iconic brands, recognising that our consumers trust us to offer them quality and healthy snacking options. We also understand that our customers who are our business partners, expect us to support them as we operate in the markets to deliver our products to our consumers. Our much-loved brands are the hard currency we trade with, and we continue to invest in them to sustain our growth,” Adeboye said.

Cadbury Nigeria, a publicly quoted company, is the pioneer cocoa beverage manufacturer offering some of the most loved brands in the country. Mondelez International, a global snacking powerhouse, owns 74.99 per cent majority equity stake in Cadbury Nigeria. The remaining 25.01 per cent equities are held by a diverse group of indigenous, individual and institutional investors.

Mondelez International, with net revenues of about $29 billion in 2021, is a global leader with iconic brands such as OREO, belVita and LU biscuits; Cadbury Dairy Milk, Milka and Toblerone chocolate; Sour Patch Kids candy and Trident gum. Mondelez International is a member of the Standard and Poor’s 500, Nasdaq 100 and Dow Jones Sustainability Index.