Cadbury Schweppes: higher turnover

UK-based confectionery and soft drinks giant Cadbury Schweppes has reported higher full-year turnover and said 2004 was a good year for the company.
The company reported turnover of £6.74bn (€9.77bn) for the 53 weeks ended 2 January, compared to £6.44bn in the previous year, which contained only 52 weeks. Profit before tax rose to £642m (€930.7m) from £564m a year earlier.
The company said its confectionery businesses around the world had a successful year with like-for-like sales growth of nearly 6% led by core brands including Cadbury, Trident and Halls, and a strong year-end holiday season. “The Adams business is exceeding our expectations, with sales and profits in 2004 higher than the acquisition case driven by strong category growth, increased innovation and marketing investment,” CEO Todd Stitzer said.


In 2005, Stitzer said Cadbury plans to build on progress made in 2004 by increasing investment in marketing, innovation and science and technology. “We have good momentum and Fuel for Growth cost reductions will deliver further significant savings. While the external commercial environment remains competitive, we are confident that we have the strategy, brands and people to deliver within our goal ranges in 2005," he added.