Cadbury results for the first half 2008 have highlighted the following:

Revenue momentum continues: above goal range growth at +7%

Good growth across all categories: revenue growth +13% in emerging markets

Focus brands +9% driven by CDM +9%, Trident +12% and Halls +13%

Underlying margins +190bps: good progress on cost reduction initiatives

Price realisation offsetting ncreases in input costs

Demerger of Dr Pepper Snapple Group completed

·     Roger Carr, Cadbury’s Chairman said: “These results demonstrate the merit of focus, the pricing power of the brands and the determination of management to build profitable growth.  Against a background of more challenging economic conditions, we will take whatever measures are necessary in costs, prices, organisation structure and business portfolio to underpin and deliver the performance commitments we have made for 2008 and beyond.”

Todd Stitzer, Cadbury’s CEO said: “We’ve had a strong first half with revenue growth ahead of our goal range and margins significantly ahead of last year. We remain confident of a successful outcome for 2008 with revenue growth around the top end of our goal range and margins in line with current market consensus. Despite difficult economic conditions, we are committed to deliver mid-teens margins by 2011.”