UK: Americas drinks sales boost Cadbury
Cadbury Schweppes said today (2 August) that it expects annual revenues to reach the "upper end" of its target as beverage sales in the Americas rose during the first half of the year.
Cadbury, whose drinks stable includes Dr. Pepper, 7UP and Snapple, saw profits from its Americas Beverages unit rise 7% to GBP243m (US$456m).
Sales were up 4%, buoyed by growth from both the company's carbonated and non-carbonated brands. Dr Pepper volumes were up 3% in the US, although Snapple sales fell 4% due to price competition in the teas sector. Sales in Mexico, meanwhile, rose by "double-digits".
In April, Cadbury took full control of US bottler Dr Pepper/Seven Up Bottling Group. The company said the business was performing "strongly" with the integration of the operations proceeding "smoothly".
The performance of Cadbury's drinks business in the Americas was a welcome fillip to the company in the aftermath of a recent salmonella contamination that has hit confectionery sales in the UK.
The company sold its European beverages business last year to a consortium of private equity buyers.
"We expect to deliver underlying revenue growth towards the upper end of our goal range for the full year, but are still monitoring the trading impact of the UK recall," said chief executive Todd Stitzer.
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