Free Subscription

  • Access daily briefings and unlimited news articles

Premium

Only $39.95 per year
  • Quarterly magazine and digital
  • Indepth executive interviews
  • Unlimited news and insights
  • Expert opinion and analysis

Oreo, Cadbury and gum deliver for Mondelez

Mondelez International has served up an 81 per cent jump in third-quarter profit as sales of its snack food improved in emerging markets. jessis j, cadbury

The Deerfield, Illinois-based company reported profit of $US992 million ($A1.3 billion), or 65 US cents per share.

That’s up from $US548 million, or 35 US cents per share.

When one-time gains and costs are excluded, Mondelez earned 57 US cents per share.

The results topped Wall Street expectations for the maker of Oreo cookies, Cadbury chocolate and Trident gum.

The eight analysts surveyed by Zacks Investment Research expected adjusted earnings of 54 US cents per share.

“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,” chief executive Irene Rosenfeld said.

Mondelez said its revenue improved two per cent to $US6.53 billion in the period, which surpassed the $US6.46 billion that analysts predicted.

Rosenfeld plans to retire in November. She will be replaced by Dirk Van de Put, who was president and chief executive of McCain Foods.

You have 3 free articles.