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Thursday April 30, 01:02 PM
Happy Easter Makes Cadbury Creme Of Crop

By © Sky News 2009

Happy Easter Makes Cadbury Creme Of Crop
Click to enlarge photo
A jump in Creme Egg sales over a bumper Easter period has helped Cadbury get off to a steady start in 2009.

The confectionery group saw underlying sales rise 2% for the first quarter, placing it on track to meet targets for the year.

The company, which makes Dairy Milk chocolate, Trident gum and Halls cough sweets, said overall sales in rose 11%.

Good growth in the UK and emerging markets offset weaker performances in North America and continental Europe.

The group reported strong growth of chocolate, led by a very good Easter in the UK with over 20% growth of its Creme Eggs and traditional Easter eggs.

Group chief executive Todd Stitzer said: "A strong chocolate performance and good growth in emerging markets were partially offset by customer de-stocking and soft demand in North America and Europe."

As a result of the figures, the group kept its targets for the year.

These were set in February to forecast sales growth of between 4 to 6%.

Cadbury shares, which traded around 640p in May 2008 after its demerger from Schweppes, have performed 11% below the FTSE average so far this year.

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