Cadbury said that Kraft's offer to buy it is “even more unattractive” as the maker of Dairy Milk reported its performance in 2009 was ahead of analysts' expectations.  

The latest salvo in the war of words with Kraft, which wants to buy Cadbury for £10.5bn, saw the UK company forecast dividend growth of 10 pc and upgrade its performance for last year.
Roger Carr, Cadbury's chairman, who alongside chief executive Todd Stitzer has been spearheading Cadbury's defense over the past three months, said that the company's performance in 2009 was “ahead of our previously upgraded expectations and we have excellent momentum going into 2010.”  
The battle for Cadbury has been the longest-running takeover story of the past six months, with Warren Buffett, Kraft's largest shareholder, members of the Cadbury family and even Lord Mandelson, the business secretary, all voicing their concerns over the outcome of the deal.
Mr. Stitzer said today that the company expects revenue growth of up to 7pc in 2010 and restructuring to help it achieve higher margins in coming years.
Today's trading update, which will be followed by a fuller account of its results for 2009 on Thursday, comes amid reports that Kraft chief executive Irene Rosenfeld has flown in from the U.S. to speak to skeptical Cadbury shareholders, ahead of its January 19 deadline on whether to raise its offer.
(Source: Daily Telegraph)