British confectioner Cadbury has reported a two percent increase in underlying sales despite slowing growth on the back of poor gum sales in the first quarter.
By Ellie Duncan
The company said the results were down to price increases, which added about 5 percent to sales, although the quantity of products sold contracted by 3 percent.
Cadbury has confirmed its revenue and margin targets for the year following strong growth in the first quarter, particularly in the UK, India and South Africa.
In its five other regions, sales were also up, led by 10 percent growth in Britain and Ireland, as well as an 11 percent gain in Asia.
Revenues were up 7 percent on a good Easter in the UK that saw sales of Creme Eggs and traditional Easter eggs up over 20 percent.
However, demand for gum in the North American market has slowed.