UK confectionary giant Cadbury has reported much higher than expected sales in its third quarter of the year report. This has raised pressure on the would-be US suitor Kraft, from which Cadbury had last month rejected a takeover approach.

It valued the company at 10.2 Billion Pounds ($16.3 Billion). The recent surge in sales has led Cadbury to successfully declare its confidence in its future as an independent company.

"The strength of our operating performance continues to underpin the Board's confidence in both our growth prospects and the potential for creating further, material shareholder value as a pure play standalone confectionery business," Chairman Roger Carr said.

The UK confectioner's shares have recently risen by 0.9%, currently valued at 808 Pence in London. UK's Takeover Panel has given Kraft until November 09 to make another formal offer, which in the light of new developments is expected to be higher than before. Cadbury has reported that its sales rose 7% in the quarter from the prior year, and analysts are expecting a further 4% growth.

Analysts and investors expect the shares to increase further as a result of the strong update. It is also being estimated that in order to have any chances of a successful takeover, Kraft might have to raise its offer to around 850p, as opposed to the earlier bid of 745p.