(Reuters) -Hershey Co raised its full-year sales and profit forecast on Thursday, as the Kit Kat maker expects to benefit from price hikes and strong demand for its chocolates and candies.
Packaged food makers, including Hershey, Kraft Heinz and Campbell Soup Co, have been raising prices for their products to mitigate the impact of soaring costs stemming from supply chain disruptions, the Russia-Ukraine crisis and global inflation.
The candy maker said it now expects full-year 2022 net sales growth of between 10% and 12%, compared with its previous forecast of an 8% to 10% growth.
It now forecasts annual adjusted profit of between $7.91 and $8.05 per share, up from expectations of $7.84 to $7.98 per share earlier.
(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Amy Caren Daniel)
