Sales dropping below target10 Oct 2009 13:05
CADBURY SALES FALLING BELOW TARGET, SAY ANALYSTS JP Morgan outlined that Cadbury's chocolate sales could fall below the company's guidance, based on Nielsen's data monitoring chocolate makers' market share across Britain and Ireland. Cadbury is due to report its second quarter sales figures on October 21 and is awaiting an unwanted 10.2 billion pound takeover approach from Kraft: due to post its own results in the first week of November. Pablo Zuanic, a JP Morgan analyst, said: 'We have argued the ten per cent chocolate sales growth in the first half reported by Cadbury globally was flattered by the long Easter season. According to Nielsen, Cadbury's chocolate sales were up 16 per cent in the UK for the first six months of the year, but were up only three per cent in July and averaged 6.1 per cent sales growth in the last 12 weeks.