Cadbury revenue growth on target

Cadbury Plc, the world's largest confectionery maker, said revenue growth this year will meet the lower end of its forecast and kept its goal for higher profit margins as chocolate and gum sales defy the global recession.

Cadbury rose the most in three months in London trading. Sales growth in 2009 will be "around the lower end" of the company's 4 to 6 percent target range, the maker of Trident gum and Wispa chocolate bars said yesterday. Cadbury repeated its target for "mid-teen" growth in profit margins by 2011.

Sales have held up as consumers from Asia to the U.K. and Ireland continue to buy "affordable treats," Chief Executive Officer Todd Stitzer said on call with journalists. Cadbury last year spun off its US soft-drinks division and sold its Australian beverages unit, transforming itself into a dedicated candy maker. Profit from continuing operations more than doubled in 2008, and rose 35 percent on a so-called underlying basis.