Mondelēz International has reported an 8.1% rise in its third-quarter net revenue and raised its full-year outlook.
The owner of Oreo posted net revenue of $7.76 billion.
The rise in sales was driven by organic net revenue growth of 12.1% – which in turn reflected both volume and price increases – as well as incremental sales from the company’s acquisitions of Clif Bar and Chipita.
In Q3, Mondelēz’s emerging markets business delivered 19.7% net revenue growth.
In Asia, the Middle East and Africa, Mondelēz recorded 4.6% growth in net revenue, while in Latin America the chocolate giant witnessed a 21.6% rise, and in North America a 19.6% increase. However, Mondelēz’s Europe business recorded a 2.4% decrease in net revenue.
Mondelēz chairman and CEO, Dirk Van de Put, said: “Our third-quarter performance demonstrates the resilience of our snacking categories, strength of our brands, broad-based net revenue growth of both our emerging and developed markets, effective execution of pricing and solid volume growth, enabling us to raise our full-year revenue and earnings outlook”.
“Despite ongoing macro volatility, we remain focused on executing against our strategy and delivering on items we can control, including supporting our brands and retaining healthy volumes, while continuing to deliver strong profit dollar growth and long-term share gains.”
Mondelēz now expects organic net revenue growth of more than 10%, versus its previous expectation of an over 8% increase.
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