USA: Wrigley posts 15% rise in Q3 earnings
US chewing gum maker Wm Wrigley Jr has posted a 15% rise in quarterly profit, helped by strong sales and the weak US dollar.
Wrigley, the world's largest chewing gum maker, reported profit of US$113.1m, or 50 cents a share, for the third quarter, compared to $98.5m, or 44 cents a share, a year earlier. Excluding a one-off charge related to its failed bid for US confectioner Hershey Foods, Wrigley earned 47 cents a share in the year-ago quarter.
The result met analysts' average forecast of 50 cents a share, reported Reuters.
Third-quarter sales increased 12% to $783m. Before the effects of currency conversion, sales increased 7%.
Wrigley's sales in the Americas region rose 8%, on volume growth of 4%, while international sales increased 15%.
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