Cadbury Likely to Hike Prices
February 20, 2008
Confectionary firm Cadbury Schweppes is likely to hike the prices of its chocolates and sweets as costs are set to rise by 5% to 6% in 2008.
This news follows the company’s announcement that profits for fiscal 2007 stood at GBP670 million, a 9% decline compared to fiscal 2006. Currently, the company is in the process of spinning off its American drinks unit.
BBC quoted the company as saying: “Commodity input costs are expected to be 5% to 6% higher in 2008 and we will seek to offset these increases through price rises.”