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Oct, 30 2017

Leading Chocolate Brand Hershey records highest sales growth In india

Hershey India has multi category portfolio that includes Hershey milk shake Hershey sofit Milk booster

One of the leading chocolate manufacturers The Hershey Company has announced its quarter3 global earnings and revenue.

According to a statement by the company, Hershey India has recorded a strong double digit constant currency net sales growth. Among its global earnings, the constant currency net sales for Brazil in the third quarter increased by 3.3 per cent, while for Mexico net sales increased by 10 per cent. India has registered the highest net sales growth of 16 per cent, exceeding plan.

Outside of North America, India is one of only four focus markets for The Hershey Company (Other focus markets China, Brazil and Mexico).

Michele Buck, President and Chief Executive Officer, The Hershey Company said, “We're making measured investments in our core markets of Mexico, Brazil and India, where we're seeing solid marketplace gains. Combined constant currency net sales growth in these markets was 8 per cent, and we're improving on operating income trends at the same time. I'm pleased with our progress in this segment.”

Hershey India has multi category portfolio that includes Hershey milk shake, Hershey sofit, Milk booster etc.

Patricia A. Little, CFO, the Hershey Co, said, “Constant currency net sales in India increased 16 per cent and slightly exceeded our plan. Growth in the brands we're investing behind continues to be solid. Our transition of the India portfolio is enabling a higher margin business, and we are on track to expand gross margins here by 1,000 basis points in 2017. This is enabling adjustments in the local marketplace that should result in a sustainable operating model”.

 

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