US confectionery firm Hershey Foods has reported a rise in quarterly profit, helped by better profit margins due to cost cuts and an improved product mix.

Hershey posted earnings of US$143.6m, or $1.09 a share, for the third quarter, compared to $123.1m, or 89 cents a share, a year earlier.

Excluding one-time charges, the company earned $1.15 per share, beating analysts' estimates of $1.13 per share, reported Reuters.