Cadbury directors tuck in

Directors at Cadbury showed their support for the chocolate manufacturer by spending a combined total of nearly £50,000 on shares in the group.

The firm said the directors had 'elected to surrender part of their quarterly directors' fees' to buy the shares.

Chairman Roger Carr bought 2,124 shares at 612p a share and now has 62,482 shares in the firm.

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He was joined by five non-executive directors including peers Chris Patten and Sarah Hogg.

Patten, the former chairman of the Conservative Party and governor of Hong Kong, took 1,315 shares and now has 11,917, while Hogg, wife of the former Conservative cabinet minister Douglas Hogg, took her first stake of 502 shares.

The non-execs also paid 612p a time.

Shares in Cadbury have proved relatively defensive in the face of weak economic conditions and the market turmoil that erupted late last year.

Last month, the firm said it still expects strong profit growth for the year with revenue and margins in line with previous forecasts despite weakening economic conditions in the fourth quarter.

Chief executive Todd Stitzer also outlined the company's long-term goals.

"Looking forward, despite forecasting a 6-8% rise in input costs for 2009 and weakening economic conditions, we remain committed to delivering mid-teen margins by 2011 and making further progress towards that goal in 2009," he said.

Late last month Cadbury, which used to be part of Cadbury-Schweppes, completed the total divestment of its soft drinks business by agreeing to sell its Australian arm for £550m.

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