British confectionery group Cadbury has reported a 24% rise in first-half profits and looks for a stronger profit margin increase for 2009. The company posted first half pre-tax profits of £262 million (€305m).

The group reported underlying first-half sales rose 4% as growth picked up after a slow first-quarter which only saw a rise of 2% held back by de-stocking in the United States and difficult trading in mainland Europe.

It says that its profit margins had increased due to cost cutting and because it could now pay less for its marketing due to the recession’s impact on the advertising industry. “We made good progress in the first half in challenging trading conditions,” says chief executive Todd Stitzer.