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For Immediate Release 12 February 2003

Underlying earnings per share growth and cash flow targets achieved

Cadbury Schweppes plc reports on financial performance for the 52 weeks ended 29 December 2002:

2002 Highlights
Underlying earnings per share growth in constant currency1 of 11% and free cash flow of £315 million
Adverse currency movements impact earnings by 4%
Strong growth from confectionery operations with volumes up 3%
Excellent results from Cadbury Trebor Bassett with volumes up 6%
Solid beverage performance driven by efficiency improvements and acquisitions
Acquisitions continue to strengthen both business streams
Purchase of Adams on track to complete at the end of March
John Sunderland, CEO of Cadbury Schweppes, said, "2002 was a good year for Cadbury Schweppes. It marked the sixth successive year in which we have exceeded our targets for underlying earnings per share growth in constant currency and free cash flow delivering 11% and £315 million respectively. Underlying operating profit passed the £1 billion mark for the first time.

"The most significant feature of the year has been the high levels of profitable volume growth achieved by our major confectionery businesses. Acquisitions continued to strengthen our beverage and confectionery businesses and the impending purchase of Adams will make Cadbury Schweppes the world's leading confectionery company2.

"To further focus the business on growth and value creation we have today announced a comprehensive management reorganisation including the amalgamation of our North American beverage businesses. For all these reasons, 2003 will be a year of transition as we consolidate these various developments. This will have some impact on our achievement against our targets for this year, but will provide an excellent platform for future revenue and profit growth."
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