Cadbury 2006 profit sweetened by sale beverage business
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Confectionery and soft drinks giant Cadbury Schweppes has said that net profit jumped 50 percent in 2006 to 1.165 billion pounds following the sale of its Europe Beverages business.
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COLES Myer chief John Fletcher yesterday declared the company on track to reach $800 million in annual profit by 2006 after handing down the highest result in the company&#39;s history, with all key divisions firing.
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British drinks giant Allied Domecq, maker of Beefeater gin, Courvoiser cognac and Malibu rum, posted a six-percent rise in annual pretax profits as sales of spirits and wines stagnated.
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Chocolate maker Hershey Foods Corp.  HSY.N on Wednesday posted an increase in quarterly profit,  helped by sales of new candies and nutrition bars.
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Coca-Cola Co , the world's  largest maker of soft drinks, reported higher-than-expected  quarterly profit on Wednesday, helped by higher sales,  acquisitions and foreign exchange rates.
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Cadbury Schweppes, the worldâs biggest candy maker, said on Tuesday that it plans to cut 7,500 jobs and sell the United States beverage unit that makes Dr Pepper, Snapple and 7-Up to become more profitable.
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The Hershey Company lowered its profit forecast for 2006 Wednesday because of a recall of Canadian candy last month and lower-than-expected sales.
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Diageo, the world's biggest maker of alcoholic drinks, said on Thursday that net profit advanced 8.9 percent in the first half of the group's financial year, boosted by performance abroad.
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Coles Myer, three years into a five-year turnaround journey, bettered its guidance with a record annual net profit of $576.5 million on Wednesday and said it was well on the way to meeting its target of $800 million in fiscal 2006.
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Pepsi Bottling Group Inc. , the largest bottler of Pepsi drinks, on Tuesday said quarterly net profit rose about 1 percent, helped by strong sales in Europe, and raised the bottom end of its full-year earnings forecast.
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Britannia Building Society thanks its recent purchase of Bristol & West for lifting first-half profits to a record Â£76m.
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By Bloomberg, AP and Staff Reports  Dillard's Inc. reported first-quarter profits Wednesday of $42.9 million, down 30 percent from the $61.3 million the department store chain earned in the same period a year before.
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Pearson, the publisher of The Financial Times and the owner of Penguin books, said that profit fell 29 percent in 2006, partly as a result of a gain in the prior year on the sale of its stake in a Spanish newspaper. Income for the company, which also has a 50 percent stake in The Economist magazine and owns the French newspaper Les Ãchos, dropped to Â£446 million ($875.4 million) from Â£624 million. Revenue rose 8 percent, to Â£4.4 billion ($8.7 billion) as 8 percent sales growth at the companyâs schools publishing business in the United States outweighed slower sales at Penguin. Ad revenue was up 9 percent at The Financial Times. Excluding one-time items, profit rose 38 percent, to Â£455 million ($893.6 million) in 2006.
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Cadbury Schweppes, the soft drinks and confectionery giant, said yesterday that the wet summer had dampened sales of its soft drinks in Europe.
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Cadbury Schweppes says its plans to hive off its US drinks business will go ahead - even if it cannot find a buyer.
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Pernod Ricard, the liquor maker, said its annual profit rose less than forecast as a result of higher spending on advertising. Profit for the year ended June 30, excluding interest, taxes and amortization, was 1.26 billion euros ($1.6 billion), missing some analystsÂ estimates. Net income rose 32 percent, to 639 million euros. The results are the first full-year numbers since Pernod bought Allied Domecq for $13 billion last year. Pernod, which is based in Paris, said it increased its marketing spending during the year to 1.04 billion euros from 593 million a year earlier.
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Cadbury Schweppes has warned that its full year results will be at the lower end of its expectations. The world&#39;s biggest confectioner said that wet weather had held back sales of soft drinks in France and Spain.