Chewing gum giant Wrigley said third quarter profit took a 7% hit in costs relating to the group’s failed bid for US chocolate maker Hershey.
To September 30 new products such as Orbit sugar-free gum and Eclipse Flash Strips saw sales jump 19% to $700m and net income rose to $98.5m, with costs coming in at $7m.
Wrigley’s also spent an extra 27% in marketing costs to boost sales of its Spearmint and Doublemint brands.
International sales increased by 19% with double digit growth across Europe, mid-single growth across Asia, and “relatively flat” results in the Pacific, the group said.
To September 30 new products such as Orbit sugar-free gum and Eclipse Flash Strips saw sales jump 19% to $700m and net income rose to $98.5m, with costs coming in at $7m.
Wrigley’s also spent an extra 27% in marketing costs to boost sales of its Spearmint and Doublemint brands.
International sales increased by 19% with double digit growth across Europe, mid-single growth across Asia, and “relatively flat” results in the Pacific, the group said.
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