Cadbury has today (15 May) forecast that first-half revenue and margins will exceed targets.
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In a surprise trading update, Cadbury said it had made a “strong start” as a pure confectionery company.
The UK-based company formally began life as a confectionery-only company earlier this month when the demerger of its Americas beverages business was finalised.
Chairman Sir John Sutherland said: “The new company is off to a strong start with revenues in the first half expected to be above the top end of our goal range and trading margins around 150 basis points ahead. This performance reflects the combination of increased marketing investment, higher pricing and successful early execution of our cost reduction initiatives.”
Cadbury has targeted annual revenue growth of 4-6%.
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By GlobalDataThe company, meanwhile, said Guy Elliott, chairman of its audit committee, will become senior independent director when Roger Carr replaces Sir John as chairman in July.
