Cadbury, the newly demerged company formed last month following a break-up of Cadbury Schweppes' confectionery and soft drinks businesses, is off to a strong start, according to outgoing chairman Sir John Sunderland.

Speaking after his last board meeting, Sir John said: “Following the demerger, I am very pleased to confirm that the new company is off to a strong start with revenues in the first half expected to be above the top end of our goal range and trading margins around 150 basic points ahead.”

The strong performance of Cadbury was due to increased marketing investment, higher pricing and early execution of cost reduction initiatives, Sir John added.