Cadbury shakes off royal snub as sales surge
Cadbury has shaken off losing the royal seal of approval after a surge in European sales helped its profit jump during its latest financial year, it has been revealed.
The Birmingham-based iconic chocolate maker hit the headlines at the end of 2024 after being dropped from the list of royal warrants for the first time in 170 years.
Cadbury was first awarded a royal warrant as chocolate and cocoa manufacturers by Queen Victoria in 1854.
However, King Charles III included the brand among a 100-strong list of companies and products that had their warrants withdrawn, according to a list published by Buckingham Palace’s Royal Warrant Holders Association in December.
At the time, Cadbury’s US owner, Mondelez International, said it was disappointed to have been stripped of its warrant.
European sales boost Cadbury
Now, new accounts filed with Companies House have revealed that Cadbury’s turnover jumped from £155.8m to £206.5m in 2024.
While sales in the UK remained flat at £64m, turnover in Europe more than doubled from £49.3m to £103.6m.
Cadbury’s sales in the rest of the world, however, dipped from £41.5m to £38.7m during the year.
As a result of its surging sales, Cadbury’s pre-tax profit also increased from £42.3m to £52.4m.
During the year, the company’s headcount also grew from 858 to 1,143.
The results for Cadbury come ahead of its owner, Mondelēz UK, reporting its results for the same financial year.
Those accounts will include the combined financial performance of Cadbury as well as brands such as Toblerone, Oreo, Belvita, Ritz and Philadelphia.
For 2023, Uxbridge-headquartered Mondelēz UK’s turnover totalled £2.21bn, a rise from the £1.95bn it achieved in 2022.
However its pre-tax profit was cut over the same period from £131.4m to £88.1m.
Mondelēz International is headquartered in the US and is listed on the Nasdaq.