US confectioner Hershey Foods has reported a rise in quarterly earnings, boosted by an increase in prices.
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Hershey, which makes Reese’s Peanut Butter Cups and Hershey’s Kisses, posted second-quarter net profit of US$71.5m, or 54 cents a share, compared with $63.1m, or 46 cents a share, a year earlier, reported Reuters.
Excluding one-time charges, Hershey said it earned 56 cents a share, against comparable year-ago earnings of 47 cents a share.
Analysts polled by Reuters had been expecting, on average, profit of 52 cents a share.
Hershey’s sales rose to $849.1m from $823.5m a year earlier.
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