UK/US: "Focussed" drinks ops please Cadbury
The drinks arm of Cadbury Schweppes is performing better as it gets smaller, the company said today (20 February).
Cadbury Schweppes, who has posted a slight dip in full-year group profit, saw beverage revenues at its Americas Beverages unit climb in the year to 31 December by 4% on 2005.
Totall group revenue was up by 15% to GBP7.4bn (US$14.5bn) at the company, while profits from operations dipped by 9% year-on-year to GBP909m.
"We made significant moves during the year to focus our beverages business on more advantaged markets," the company said, pointing to its exit from beverage markets in Europe, Syria and South Africa in 2006.
Cadbury Schweppes also sold a number of no-core beverage brands in the US, allowing it to concentrate on its "key markets" of North America, Mexico and Australia.
Also last year, Cadbury Schweppes acquired a number of manufacturing and distribution businesses in the US, including Dr Pepper/Seven Up Bottling Group, All American Bottling Co. and the Seven Up Bottling Co. in San Francisco.
"The acquisitions have provided us with opportunities to reduce costs and accelerate revenue growth," the company noted.
Revenue at the Americas Beverages unit came in at GBP2.6bn for the year against GBP1.8bn in 2005, with profit from operations hitting GBP562m, beating 2005's GBP537m.
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