LONDON: Cadbury, the UK-based confectionary company, saw pre-tax profits rise by 30% to £559 million ($796m; €625m) in 2008, with underlying sales also up by 7%, ahead of existing targets.
While consumers were said to have been trading down from premium brands like Green & Blacks in an effort to reduce costs, mass-market products like Dairy Milk were the direct beneficiaries of this trend.
Despite warning that the company would not be immune to the downturn, Cadbury also predicted that revenues would increase at the "lower end" of its 4% to 6% target over the course of this year.
It is also aiming to increase confectionary margins to the "mid-teens" in two years time, having seen underlying margins up to 11.9% last year.
Data sourced from Financial Times; additional content by WARC staff