date:May 24, 2012
t still accounted for 48% of group sales.
Marketing spend is due to double this year, from about 25.M to 51M. Over the next three years the marketing budget is expected to triple to reach about 83M. We estimate this would raise marketing spend from 2% of branded sales this year to an estimated 6.1% in 2014.
Cost savings include 4% a year in controllable manufacturing costs and 40M of overheads by the end of next year.
The cautious vote of confidence from Jones and McNeela follows similar