Andrew Wood, senior research analyst at Bernstein, maintains that management at the confectionery giant has successfully laid out its hand in its Q3 interim statement, to demonstrate how attractive Cadbury is, both to its own shareholders and to Kraft.

The confectionery manufacturer said that 2009 revenue growth was now expected to be around the middle of its four to six per cent goal range with improved momentum increasing its confidence for good revenue growth in 2010 and 2011.

The results also show that within the product categories, chocolate growth at 7 per cent remained strong, while gum at four per cent and sugar at 11 per cent rebounded after a tougher H1.

Meanwhile growth for the company was quite balanced between the emerging markets (+10%) and the developed world (+5%).