Cadbury scales back targets after strong 2008

Confectionery firm Cadbury today posted a 30% rise in annual profits after its key brands of Dairy Milk, Trident and Halls saw strong growth.

The haul of £559m (€632m) for 2008 was slightly ahead of market expectations after underlying revenues improved 7% on a year earlier.

The performance was aided by a 5% sales rise in the UK after the relaunch of chocolate bar Wispa produced a record £25m (€28.2m) of sales in the period since September.

Cadbury said Dairy Milk’s global sales were up by 11% in the year, while Halls cough sweets grew by 9% and chewing gum brand Trident added 11%.

Despite the improvement, the company admitted it would not be immune from the economic downturn in 2009 and said revenues growth this year was likely to be towards the lower end of its 4% to 6% target range.