Cadbury makes strong start to year following demerger
Cadbury said on Thursday that it was making a strong start to the year following its demerger with American Beverages and said it expected revenues for the first half to be at the top end of its goal range with margins around 150 basis points ahead.
Cadbury 2007 profits dipThe chocolate maker also said that it had appointed Guy Elliot to be its senior independent director as of 21 July 2008. Elliot is currently the chairman of the company's audit committee.
In another board change, Bob Stack, executive director and chief human resources officer will be resigning at the end of the year
Outgoing non-executive chairman Sir John Sunderland, said in his final board meeting, "Following the demerger, I am very pleased to confirm that the new company is off to a strong start with revenues in the first half expected to be above the top end of our goal range and trading margins around 150 basis points ahead. This performance reflects the combination of increased marketing investment, higher pricing and successful early execution of our cost reduction initiatives
"I'm delighted to be leaving the company in such good hands, with Roger Carr taking over as Chairman and Guy Elliott taking on the role of our Senior Independent Director. I wish Todd, the executive team and all our employees continued success and good fortune in the future."
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