In­dia gives Her­shey a sweet 16% sales bite

The Hindu Business Line - - NEWS -

The Her­shey Com­pany’s bets on In­dia is pay­ing off with the choco­late-maker reg­is­ter­ing the high­est net sales growth of 16 per cent in the coun­try, beat­ing other emerg­ing mar­kets such as Brazil and Mex­ico.

Speak­ing about the growth, Michele Buck, Pres­i­dent and Chief Ex­ec­u­tive Of­fi­cer, 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.”

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

Patricia A Lit­tle, CFO, added: “Con­stant cur­rency net sales in In­dia in­creased 16 per cent and slightly ex­ceeded our plan. Growth in the brands we're in­vest­ing 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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