Cadbury's sales up for third quarter
Cadbury's sales for third quarter higher than expected at seven per cent
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Wednesday, 21, Oct 2009 11:22
By Sarah Garrod
Cadbury's sales for the third quarter were higher than expected at seven per cent, the firm announced today.
Last month Cadbury's rejected a takeover offer from Kraft, which has until November 9th to make a formal offer.
Today the confectioner's said they had experienced good growth in chocolate, up seven per cent, as well as in gum and candy, and said their growth in Britain and Ireland had been "excellent", up by ten per cent for the quarter.
Todd Stitzer, Cadbury's CEO said: "We have great momentum in our business and our confectionery strategy continues to yield benefits beyond expectations. In the third quarter we have delivered growth in every category and every business."
Cadbury's has now altered its predictions for the year, saying 2009 revenue growth is now expected to be around the middle of their four to six per cent goal range.
"The strength of our operating performance continues to underpin the board's confidence in both our growth prospects and the potential for creating further, material shareholder value as a pure play standalone confectionery business," Roger Carr, chairman of Cadbury, added.
Cadbury owns Dairy Milk, Green & Black's, Halls and Bassett's.