Wrigley's profit up 21 percent

CHICAGO -- Growing international sales and a weak U.S. dollar helped propel Wm. Wrigley Jr. Co.'s profit up 21 percent during the second quarter, the gum and candy maker said Monday.

The confectioner's net income rose to $169.8 million, or 61 cents per share, during the April-through-June quarter. That's up from $140.6 million, or 51 cents per share, in the year-ago period. Results included a penny-per-share charge related to supply chain restructuring.

Meanwhile, revenue surged a better-than-expected 14 percent to $1.38 billion from $1.21 billion last year, beating Wall Street forecasts.

The Chicago-based confectioner said shipments rose worldwide, driven in part by a 23 percent sales growth in Europe and Asia. North America net sales grew 3 percent to $452 million, but volume fell 1 percent due to price increases.

Wrigley's popular Orbit and Eclipse gum continued to perform well in the U.S., especially in a new plastic bottle package, the company said.

A third of revenue growth was attributed to the weakened dollar.

"Our focused investments in key geographies -- in terms of product innovation and brand support -- are producing excellent results," Wrigley's President and Chief Executive Officer Bill Perez said in a statement. "All major regions contributed to our growth in the quarter, particularly Europe and Asia."

Meanwhile, Perez said Wrigley is aiming for a full-year earnings growth of anywhere from nine to 11 percent.