Hershey fourth-quarter profit up; company lifts 2013 forecast

Thu Jan 31, 2013 7:14am EST

Jan 31 (Reuters) - Hershey Co reported higher fourth-quarter earnings on Thursday, helped by improved market share.

The maker of Kit Kat, Twizzlers and Reese's peanut butter cups said net income was $149.9 million, or 66 cents per share, compared with $142.1 million, or 62 cents per share, a year earlier.

Excluding special items, earnings were 74 cents per share.

Sales rose to $1.75 billion from $1.57 billion.

The company also raised its full-year earnings outlook, saying it expects $3.56 to $3.63 per share in adjusted profit, representing growth of 10 percent to 12 percent. Its prior forecast called for profit growth of 8 percent to 10 percent.


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.