Cadbury Schweppes is "in line with expectations" for 2005, according to recently issued interim results. However, it admitted that year-on-year margin growth would fall short of its goal range, as "the cost environment in 2005 has been very challenging", a trend it expects to continue into the first half of 2006. Revenue has been driven largely by worldwide confectionery sales and its US and Australia beverage operation, as well as the rapid sale of its European drinks business for £1.26bn. The company has also instituted a cost reduction programme it believes will save £100m by the year's end. Cadbury Schweppes also announced three major investments in its FMCG business. The company will buy a further 30% of Turkey's second largest confectioner, Kent, for approximately £55m. Cadbury acquired a 65% stake of Kent in 2002. Cadbury will, in addition, spend £70m on a brand new chewing gum factory in Poland, scheduled to be operational by 2008. A further £30m will be spent ramping up the production of sugar free gum in Mexico. Cadbury Schweppes chief executive Todd Stitzer said: "The rapid sale of Europe Beverages allows us to focus on our higher growth business and today we are announcing significant investments to strengthen our presence in key developing markets and provide low cost sourcing."