Cadbury reported a 2% drop in full-year underlying pre-tax profit to £915m on revenue up 7% at £7.97bn. In Britain, revenues rose 5%, boosted by the relaunch of Wispa in October and its drum-playing gorilla advertising campaign for Cadbury Dairy Milk.
However, analysts were disappointed the group had decided not to return money to shareholders. “The disappointment centres on the announcement that there will be no capital return to Cadbury shareholders on the demerger of Dr Pepper Snapple,” Rob Mann, an analyst at Collins Stewart told the Financial Times.
Graham Jones, an analyst at Panmure Gordon, added: “While we always thought the maths of a cash return to shareholders was marginal at best the fact that Cadbury is going back on its previous statement is not impressive.”