Cadbury net profit nearly triples in first half
Jul 30 2009
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British confectionery maker Cadbury said on Wednesday that interim net profits almost tripled thanks to a strong performance in emerging markets and its chocolate division.

Cadbury, which makes Dairy Milk chocolate and Trident chewing gum, said profits hit £313 million ($512 million) in the six months to June, compared with 113 million in the same period of 2008. Revenues advanced 13% to £2.77 billion, the London-based group said in a results statement.

Pre-tax profits meanwhile rose 24% to £262 million, slightly ahead of market expectations.

"We made good progress in the first half in challenging trading conditions," chief executive Todd Stitzer said.

"A strong chocolate performance and good growth in emerging markets more than offset a slow start in North America and continued softness in Europe.

"At the same time, we significantly improved our trading margin whilst maintaining our investment in marketing and product innovation."

The group repeated its previous guidance for 2009 revenue growth to be at the lower end of 4 - 6% as a result of the global economic slowdown.

Source: www.bizcommunity.com, 29 July 2009