Mondelez beats estimates with Q1 growth | Progresiv
Mondelez International has reported better-than-expected growth figures for its fiscal first quarter, driven by growth in Europe and the AMEA region. 
For the three months to 31 March, net revenue grew by 5.5% to 6.77 billion dollars (+2.4% organic basis), with volumes up 1.7%. Adjusted operating profit was up 9.7% to 1.13 billion dollars (+3% constant-currency), while net profit jumped up 15.4% to 928 million dollars (+6.5% constant-currency).
Revenue growth was strongest in Europe, jumping up 14.4% to 2.7 billion dollars (+4.7% organic), on volume growth of 5.6%. It also recorded a 3.4% rise to 1.54 billion dollars in Asia, Middle East & Africa (+3.6% organic), with volumes rising by 2.5%.
However, those results were partially offset by a 1.3% decline to 1.6 billion dollars in North America, where volumes slid by 1.3%, and a 2.1% decline to $891m in Latin America, where volumes fell 4%.
Dirk Van de Put, Chairman and CEO, noted: “We continue to see encouraging snacking category growth trends, especially in emerging markets. We remain focused on executing our 2018 plan while making good progress developing our long-term strategic framework.” (www.kamcity.com)
