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Cadbury’s still sweet on growth
Sales of Cadbury’s products have risen by 10 per cent in the first half of 2008, despite rising costs and ongoing fears surrounding an economic slowdown.
The company said that higher confectionary prices had helped mitigate the damage caused by cost increases in products such as milk and cocoa.
'We're off to a strong start as a focused confectionery business,' chief executive Todd Stitzer said in a trading statement.
'Despite the challenging economic outlook and further increases in input costs in the second half, we are confident of a successful outcome for 2008.”
Cadbury’s said that their success in the UK markets, combined with growth in emerging markets such as Nigeria would see group sales come in higher than six per cent – exceeding the company’s long-term growth targets of between four and six per cent a year.
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