UK confectioner Cadbury restated its full-year sales and margins guidance this morning (18 June) ahead of the release of its first-half results.
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The company said that it anticipates sales growth for the fiscal year to come in at the lower end of its 4-6% target range. CEO Todd Stitzer added that Cadbury expects to make “good progress” toward its goal of mid-teens margins by 2011.
“Our early progress has continued into the second quarter with our businesses focused on delivering market share gains and efficiency improvements,” he said.
The company said the guidance reflected its “improved” performance through to the end of May.
The group’s chocolate sales remained “robust”, benefitting from a good seasonal performance and product launches, while the gum and candy business continued to post growth in developed markets.
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By GlobalDataStrength in the emerging markets of South America, the Middle East and Africa and Asia as well as Asia Pacific, Japan and the UK helped offset “challenging” conditions in Europe, Cadbury added.
