Turmoil is no block to sales boom at Cadbury

The financial markets' troubles have failed to hurt Cadbury, whose sales have been booming.

"We've had a strong first half with revenue growth ahead of our goal range and margins significantly ahead of last year," chief executive Todd Stitzer said.

He added he was confident for the full year, with sales growth seen at the top of its target and margins ahead of market consensus. He is "committed to deliver mid-teens margins by 2011".

Sales were £2.65 billion, up 14% on the same time last year, for a pre-tax profit of £143 million, up from £112 million.

The strong results come at a time of sharply rising milk and cocoa costs but Cadbury has managed to pass them on to customers in most of its markets.

Chairman Roger Carr said the ability to claw back cost increases showed "the pricing power of the brands".

Cadbury has also made savings through relocating its headquarters from Berkeley Square to Uxbridge, consolidating its distribution and warehousing structure in the UK and increasing automation at its chocolate factory in Ireland.

Those changes hit the results for £100 million. The interim dividend is up 6% to 5.3p.