Wm Wrigley has posted a 14% rise in second-quarter profits as higher unit pricing and the positive effect of the weak dollar on foreign sales boosted revenue.
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The chewing gum maker revealed net income totalling US$193.8m, up from $169.8m reported for the comparable period of last year.
Revenue totalled $1.57bn, up from $1.38bn, the company said.
Wrigley added that sales were up worldwide – meaning that the company gained market share in a number of regions.
“All major regions contributed to our sales gain in the quarter, and we are looking to build on that going forward as we continue to ramp up our investment in brand support and roll out innovative new products and packaging to the marketplace,” president and CEO Bill Perez said in a statement.
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By GlobalData“Growth in the gum category was solid, with Wrigley gaining share in key geographies, including the US, Russia and China,” Perez added.
Ukraine saw double-digit sales growth, while sales in China surged 25%, Wrigley said.
In the first half of the year, the company’s international sales grew 15%, with more than half of that attributed to currency exchange.
North American sales were up 5% to $474m; however, volumes dropped 5%.
In April, Wrigley announced that it was being taken over by Mars in a deal worth $23bn. The deal will create the world’s largest confectionery company.
Wrigley said that it expected regulatory and shareholder approval to be granted this autumn.
