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Hershey's profit rises 20 percent in third quarter

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Hershey's profit rises 20 percent in third quarter

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(Reuters) – Hershey Co’s <HSY.N> profit rose 20 percent in the third quarter, as the maker of Reese’s Peanut Butter Cups and Hershey’s Kisses benefited from cost-cutting efforts as well as lower cocoa prices. Net income rose to $273.3 million (£206.69 million) or $1.28 per share in the quarter ended Oct. 1, from $227.4 million or $1.06 per share, a year earlier. Net sales rose slightly to $2.03 billion from $2 billion.

(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Supriya Kurane and Sai Sachin Ravikumar)
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