hursday and looked forward to a stronger second-half helped by new product launches for its chocolate, gum and candy.The maker of Dairy Milk chocolate, Trident gum and Halls cough drops said growth had improved after a slow start to 2009, but this was due to the absence of de-stocking and market share gains rather than any signs of a global economic recovery.
Although mainland Europe was still a trouble spot due to weak markets in France and Spain, the group held its overall sales and margin forecast for 2009, with the slower start to the year set to be balanced by a stronger second-half.
"Trading in April and May improved due to the absence of de-stocking in the United States and some improved business performances," said Chief Executive Todd Stitzer on a conference call after a first-half trading update.
Cadbury shares edged up 0.7 percent to 525-1/2 pence by 0825 GMT in a slightly lower UK stock market.
Analysts expect sales at the world's second-largest confectionery group, after Mars-Wrigley, to rise around 3 percent in the first-half, accelerating to 5 percent in the second to give a 2009 rise close to company forecasts of around 4 percent.
"The shape of the April/May development is in line with our expectations," said Citi analyst Jeff Stent, adding the only surprise was that first-half margins will be higher than expected due to the new product launches in the second half.
The London-based group said growth in chocolate had remained robust since the start of 2009 while gum and candy returned to growth after a poor first-quarter. It gave no specific figures.
Its British business gained market share after a good Easter Egg season and the success of its relaunched Wispa bar, helping to offset difficult trading in Ireland, France and Spain.
For further details visit as : www.reuters.com/article/rbssFoodProcessing/idUSLH85838320090618
Although mainland Europe was still a trouble spot due to weak markets in France and Spain, the group held its overall sales and margin forecast for 2009, with the slower start to the year set to be balanced by a stronger second-half.
"Trading in April and May improved due to the absence of de-stocking in the United States and some improved business performances," said Chief Executive Todd Stitzer on a conference call after a first-half trading update.
Cadbury shares edged up 0.7 percent to 525-1/2 pence by 0825 GMT in a slightly lower UK stock market.
Analysts expect sales at the world's second-largest confectionery group, after Mars-Wrigley, to rise around 3 percent in the first-half, accelerating to 5 percent in the second to give a 2009 rise close to company forecasts of around 4 percent.
"The shape of the April/May development is in line with our expectations," said Citi analyst Jeff Stent, adding the only surprise was that first-half margins will be higher than expected due to the new product launches in the second half.
The London-based group said growth in chocolate had remained robust since the start of 2009 while gum and candy returned to growth after a poor first-quarter. It gave no specific figures.
Its British business gained market share after a good Easter Egg season and the success of its relaunched Wispa bar, helping to offset difficult trading in Ireland, France and Spain.
For further details visit as : www.reuters.com/article/rbssFoodProcessing/idUSLH85838320090618
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