Cadbury Schweppes posted rising profits for 2002, but warned the reorganisation of its North American business would prevent it hitting its 10% growth target this year.

The UK-headquartered drinks and confectionery titan reported a 6% rise in underlying profits for last year to £935 million ($1.51 billion; €1.41bn) on a 7% rise in turnover to £5.3bn.

There was strong growth in its confectionery business - now the globe's largest since its acquisition from Pfizer last year of US chewing gum and candy manufacturer Adams [WAMN: 17-Dec-02]. Global volumes climbed 3%, with expansion particularly brisk in the UK and Australia where sales jumped 6% and 7% respectively.

Cadbury is overhauling its management structure, merging its North American drinks units and replacing the existing ten regional reporting units with five. It hopes this will aid the integration of the Adams brand ranges.

Data sourced from: multiple sources; additional content by WARC staff