Cadbury Schweppes posted a 6% jump in annual profits but said that 2003 profits at its US soft drinks unit DPSU are unlikely to exceed 2002.

For the year ended December 29 underlying pre-tax profit rose to £935m from £886m last year on turnover which climbed 7% to £5.3bn.

The confectionery and soft drinks giant said European confectionery sales jumped 7% boosted by strong results from its key markets including the UK - where Cadbury Trebor Bassett had an “excellent year with performances exceeding our expectations”.

Sales in Europe beverages grew by 39% on the back of a number of acquisitions including Orangina in France, La Casera in Spain and Squirt in Mexico.

Ceo John Sunderland said: “To further focus the business on growth and value creation we have today announced a comprehensive management reorganisation including the amalgamation of our North American beverage business.

“Therefore 2003 will be a year of transition as we consolidate these various developments. This will have some impact on our achievement against our targets for this year but will provide an excellent platform for future revenue and profit growth.”