Momentum in emerging markets and strong power brands have driven Mondelēz International’s third quarter organic sales up by 2.8 per cent and revenue by 2.1 per cent to $6.5 billion. The strong financial results come a month before chief executive Irene Rosenfeld is due to step down from her role.
The company, which is planning to cut $3bn in costs by 2018, reduced them by
14.3 per cent to $1.33bn in the quarter. It also now expects organic net revenue
growth for the year to be approximately one per cent given the larger than
expected impact from the malware incident in July, in which a global cyber attack
reduced its second quarter revenue growth by 3 per cent.
Said Rosenfeld: “We posted another quarter of strong expansion in operating income margin and earnings. We’re making good progress on many of our key strategic initiatives and remain confident in our ability to deliver long-term, sustainable growth on both the top
and bottom lines.”