Cadbury H1 profit nearly triples
Candy and gum maker Cadbury PLC said its profit nearly tripled in the first half of the year compared to 2008, boosted by a healthy gain on the sale of its beverage business.business Updated: Jul 29, 2009 12:12 IST
Candy and gum maker Cadbury PLC on Wednesday said its profit nearly tripled in the first half of the year compared to 2008, boosted by a healthy gain on the sale of its beverage business.
The company, which makes Cadbury chocolates, Trident and Dentyne gum, and Halls and Bassett’s candies, said its net profit was 313 million pounds ($513 million), compared to 113 million pounds a year earlier.
Revenue was up 13 percent to 2.8 billion pounds.
Cadbury’s profit includes a 234 million pounds gain on the demerger of its Americas Beverages business in May and the disposal of its Australia Beverages business to Asahi Breweries of Japan in April.
On an underlying basis, the company’s own measure which strips out exceptional items, profit fell from 237 million pounds in the first half of last year to 191 million pounds.