Chewing gum market leader the Wm Wrigley Jr Company has announced rises in sales and income for the second quarter and first half of 2005, with currencies and strong sales helping to push up profits.
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For the quarter ended 30 June 2005, net sales were $1.040bn, compared with 958m in the same period a year ago. Net earnings were $162m, compared with $139m a year ago.
For the six months, sales were $1.991bn as against $1.770bn last year, while net earnings were $293m, compared with $250m a year ago.
Sales were primarily driven by a 5% shipment increase as well as the benefit of currency. Translation of foreign currencies to a weaker US dollar contributed 3% to the second quarter sales increase.
We’re very pleased with the performance of the business year to date,” said Ron Waters, chief operating officer. “Our core gum business continues to perform very well and was the primary driver behind our record-breaking sales in the second quarter. We are also seeing the benefit of layering new brands and confectionery items onto our global infrastructure, including organically developed confectionery items which are rolling out into new geographies, and those products which we’ve added to our portfolio through acquisition.”
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