Cadbury Plc, the U.K. confectioner seeking to fend off a bid approach from Kraft Foods Inc., raised its full-year profitability and revenue forecasts as recovering economies from the U.S. to Europe boosted chewing gum sales.
Third-quarter sales rose 7 percent from a year earlier, excluding acquisitions and currency movements, the London-based company said in a statement recently.
That compared with growth of 4 percent in the first half and beat the 4.7 percent average estimate of eight analysts surveyed by Bloomberg News. Cadbury increased its forecast for full-year sales growth to “around the middle” from the “lower end” of a 4 to 6 percent range, and said the underlying operating margin will widen by at least 1.35 percentage points.
Source: Bloomeberg
