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Article: New products help boost Wrigley 10% Profit up nine-fold for shock absorber maker Tenneco
- Article from:
- Chicago Sun-Times
- Article date:
- July 24, 2002
CopyrightCopyright 2002 Chicago Sun-Times. (Hide copyright information)
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A mouthful of new gum products boosted second-quarter profits 10
percent for Wm. Wrigley Jr. Co.
The world's biggest gum maker said profits climbed to $110
million, or 49 cents a share, on a 15 percent gain in sales to $708.5
million.
U.S. sales increased by 18 percent, while those in Asia/Pacific
and Europe rose 13 percent, Wrigley said. Demand for Wrigley's more
profitable products rose in the last year as European brands such as
Orbit were introduced into the United States. The company began
shipping its Eclipse Flash Strips dissolvable breath fresheners
during the quarter.
"We're starting to see a good bit of product introduction and
development," said Peter Siphron of Siphron Capital ...