Hershey announces increase in net profits

US confectionery manufacturers The Hershey Company have announced growth in first quarter 2006 net profits of 7% up to US$ 121 m.This result exceeds the expectations and forecasts of Wall Street analysts. First quarter 2006 sales were up only slightly,to US$ 1.13 bn. Hershey said this was due to the strategy of certain retailers who built up stock before price increases were introduced. Baseball card and confecitonery company Topps International and The Hershey Co. ends an eight-year manufacturing agreement to make the Bazooka bubble gum brand. Hershey has been the exclusive supplier of Bazooka in the US since March 1998,butTopps will now shift supplier. According to the SEC filing, Topps has already arranged for an unnamed supplier to manufacture Bazooka for sale and distribution in the US.