Hershey Foods reports increased sales for 2004

US chocolate company Hershey Foods has reported higher net sales and earnings for the fourth quarter of 2004, helped by new product introductions and cost controls. For the full year 2004, consolidated net sales were $4.43bn compared with $4.17bn for 2003, an increase of 6.2%. Net income for 2004 was $590.9m, or $2.30 per share, compared with $457.6m, or $1.73 per share, for 2003. "The fourth quarter was excellent," said chairman, president and CEO Richard Lenny.
"Strong sales growth fuelled by new products and more efficient trade spending combined with solid cost control to deliver record profitability.”