Cadbury Schweppes has remained quiet on reports that it is planning to cut around GBP200m (US$395.7m) in costs – including a move from of its central London offices.
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“We will be releasing details of any cost cuts in our update on 19 June,” a spokesperson for the UK confectioner told just-food today (1 June).
According to a report in the Financial Times which cited an unnamed source, the cost-saving programme is aimed at lifting profit margins at the group’s core confectionery business.
Cadbury’s previous four-year ‘fuel for growth’ strategy succeeded in driving up sales, but the company failed to meet its profit margin targets.
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