Hershey profit up on price increases

 @ibtimes
on April 24 2012 7:24 AM

Hershey Co reported higher quarterly profit on Tuesday, helped by price increases.

The maker of Reese's peanut butter cups, Twizzlers and Kit Kat bars reported net profit of $198.7 million, or 87 cents per share, for the first quarter, up from $160.1 million, or 70 cents per share, a year earlier.

Excluding items, earnings were 96 cents per share.

Net sales rose to $1.73 billion from $1.56 billion a year earlier.

(Reporting By Martinne Geller in New York; Editing by Gerald E. McCormick)

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