- Cadbury sees margin growth of 80-100bps
- H1 operating profit up 19%
- Chocolate sales rise 10; better Q2 for gum, candy
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Cadbury, the UK confectionery giant, today (29 July) raised its margin expectations after half-year profits climbed 19%.
The company booked a 19% rise in underlying operating profit to GBP319m (US$522.3m) for the first six months of 2009.
On a constant-currency basis, revenue grew 4% to GBP2.77bn. Chocolate sales climbed 10%, while Cadbury said its gum and candy businesses had a “better” second quarter.
Cadbury stuck to its full-year sales forecast of revenue growth around “the lower end” of its 4-6% target.
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By GlobalDataHowever, the group upped its margin target and said it expects “stronger margin improvement” of 80-100 basis points at constant currency.
Click here for the full first-half statement from Cadbury. Check back for further coverage and executive comment later.
