Mondelēz International reported a 1.1% increase in third-quarter net revenue, boosted by a strong performance in emerging markets.
In the three months to 30 September, the maker of Oreo cookies and Trident chewing gum posted net revenue of $6.36 billion. Earnings stood at $1.42 billion, up from $1.2 billion in the year-ago quarter.
The Illinois-headquartered company said it has reached “the next level of distribution in China”, where its biscuits and gum products are now sold by 1.5 million and 1 million stores respectively.
Within emerging markets, organic sales for the quarter rose 6.6%.
As a result of the positive figures, the firm now expects organic net revenue growth for 2019 of over 3.5%, up from the previous estimate of over 3%.
“We are pleased to report another quarter of strong top-line growth, continuing the momentum of the first half, enabling us to further increase our outlook for the year,” said CEO Dirk Van de Put.
“Our strategy to accelerate growth by focusing on the consumer, driving operational excellence and unlocking the potential of our local business units is delivering good results from both local and global brands.”
Earlier this year, Mondelēz acquired a majority interest in Perfect Snacks, a US maker of refrigerated nutrition bars.
The company believes Perfect’s range of nut butter-based protein bars and bites are a “great addition” to its portfolio of brands such as Cadbury, Milka and Belvita.
As part of its SnackFutures innovation and venture hub, Mondelēz has this year invested in functional food brand Uplift Food as well as the company behind snack brand Hu Products.
© FoodBev Media Ltd 2019