Strong half for Cadbury

Revenue momentum continued, the company said, with above goal range growth at +7%. It had also succeeded in raising prices to offset higher input costs. Chairman Roger Carr said: “These results demonstrate the merit of focus, the pricing power of the brands and the determination of management to build profitable growth. Against a background of more challenging economic conditions, we will take whatever measures are necessary in costs, prices, organisation structure and business portfolio to underpin and deliver the performance commitments we have made for 2008 and beyond.” Todd Stitzer, Cadbury's CEO said the company remained confident of a successful outcome for 2008 with revenue growth around the top end of the company’s goal range. “Despite difficult economic conditions, we are committed to deliver mid-teens margins by 2011,” he added. Revenue for the half year, at £2.6 billion (£2.3bn) was 14% up while pre-tax profits soared 28% to £143 million (£112m).