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Chewing gum maker Wrigley profits up ahead of Mars takeover

Business Materials 29 July 2008 01:04 (UTC +04:00)

Chewing gum maker Wrigley said profits rose 14 per cent in the second quarter ahead of its scheduled take-over by candy giant Mars, dpa reported.

Profits were 194 million dollars, or 70 cents per share, the Chicago-based company said. Revenue rose 14 per cent to 1.6 billion dollars.

The company was boosted by the weaker dollar that aided international sales, which accounted for most of the firm's revenues.

Wrigley makes Orbit, Doublemint and Extra gums, and last year bought the Altoids and Lifesavers brands from Kraft and acquired a Russian chocolate company.

Mars agreed in April to purchase Wrigley, in a deal that would propel it in to the top of the world sweets market.

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