UK: Cadbury Schweppes reports 12% profit rise for 2001
UK-based sweets to soft drinks group, Cadbury Schweppes, posted a 12% rise in profits in 2001. The company reported underlying pre-tax profits before exceptionals of £886 million for the 52 weeks to the end of December against £792 million the year before.
This exceeded analysts' forecasts which ranged from £860 to £875m. Sales grew by 21% to £5.52 billion.
CEO John Sunderland said: "2002 has started satisfactorily and we will focus on innovation in all aspects of our business to accelerate growth. We remain committed to our financial targets."
Volumes at the company's North American subsidiary, which accounts for about 50% of group profits, rose by 4% in the fourth quarter and by 2% over the year though the company added that its flagship beverage brands in the region, Dr Pepper and Seven Up, had both faced severe competition.
Companies: Cadbury Schweppes
Cadbury-Schweppes has insisted that the disposal of its European soft drinks businesses is not indicative of a move away from soft drinks, but analysts see the group focusing increasingly on confectio...
Cadbury Schweppes has agreed to sell its European beverages business....
PepsiCo has refused to comment on reports linking the company with a bid for Cadbury Schweppes' soft drink business....
The European arm of drinks group Cadbury Schweppes is expected to be sold next month for around GBP1.1bn ($1.9bn), according to press reports....
UK-based soft drinks to sweets group Cadbury Schweppes has issued a trading update ahead of an investor seminar to be held in Dallas, Texas on 10 and 11 October....
Cadbury Schweppes is moving ever closer to selling off its European soft drinks business, according to German press reports....
Rumours are circling that Cadbury Schweppes' soft drinks business may be merged with Britvic....
Cadbury Schweppes Americas brand Mott's has announced a new line of fortified beverages....
- Focus - Diageo's FY Performance by Region
- It's not all bad for Diageo - Analysis
- Diageo " knew United Spirits would be complicated”
- Focus - Diageo's FY Performance by Brand
- Diageo upbeat on Scotch prospects
- Challenges remain as Diageo posts flat FY sales
- Edrington appoints new board director
- Britvic appoints SABMiller's Dunn as CFO
- Bacardi creates Bacardi rum marketing role
- Q2 drags on half-year for Anheuser-Busch InBev
- Global gin insights - market data, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global liqueurs insights - market forecasts, product innovation and consumer trends research