Summary
SWEETS-to-soft drinks maker Cadbury Schweppes yesterday said profits fell by a third last year because of heavy restructuring costs and challenging conditions in its core US fizzy drinks business.
Underlying results were in line with City expectations with pre- tax profits falling by less than expected to (pounds) 922m on sales of (pounds) 6.4bn. However, including a massive (pounds) 224m charge for exceptional items - largely from a reorganisation under Cadbury's Fuel for Growth plan - profits slumped 32% to (pounds) 564m against (pounds) 830m in 2002.See the full content of this document
Extract
Cadbury Schweppes Upbeat Despite Profits Plunge
Todd Stitzer, the chief executive, said Cadbury's was on track with the cost-cut...
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