US confectionery giant Hershey saw its profits increase in 2012 – and cheered the market by upping its guidance for earnings this year.
In the 12 months to the end of December, the company earned US$660.9m, a 5% increase on 2011, it reported today (31 January). Net sales increased 9.3% to $6.64bn.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The company raised its earnings per share forecast to $3.47-$3.56, adding that cost savings and commodity deflation had given the company the flexibility to make increased investments. The company also backed its sales outlook of 5-7% growth, driven primarily by volume.
Shares in Hershey were up 1.98% at $79.83 at 12.44 ET.
Click here for coverage of Hershey’s conference call with Wall Street analysts.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
