Hershey affirms 2008 profit outlook

Candy company Hershey Co. on Tuesday reaffirmed its 2008 earnings outlook and said it will boost its advertising support for its core brands to deliver long-term sales and profit growth.

The company expects earnings per share from operations of $1.85 to $1.90 per share.

Analysts polled by Thomson Financial expect profit of $1.82 per share.

The company also expects sales to rise 3 to 4 percent during the year.

Hershey will boost advertising by at least 20 percent in both 2008 and 2009. The increased support will be focused on core brands that generate about 60 percent of the company's U.S. sales.

Read Full Article from CNNMoney.com

- Posted: 2008-06-17 08:28:35

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