Mondelēz International reports revenue slump of 8.1% | Progresiv
Mondelēz International has reported a revenue slump due to poor holiday-quarter sales and the impact of Brexit. The producer of Oreos and Cadbury chocolate stated that net revenue fell 8.1% to 6.77 billion dollars in the last quarter of 2016, with the strong pound hitting the value of sales outside the US, with Europe, Mondelēz’s largest market down, 4.7%. 
“We continue to make solid progress toward our near-term margin targets, while investing for long-term growth,” said Irene Rosenfeld, chairman and chief executive of Mondelēz International. “Despite significant economic disruptions, political uncertainties and slower global category growth, we remain confident in and committed to our balanced strategy for both top- and bottom-line growth.
“As you read news from around the world these days, it’s clear that an unprecedented number of economies are facing significant disruption and uncertainty. We’re working with a sense of urgency to deal with today’s realities, to control what we can – and create contingencies for what we can’t.
“Throughout the year, we continued to sharpen the focus of our portfolio, increase Power Brand investments and modernise our supply chain.
“These actions, together with our excellent cost discipline, position us well to deliver strong operating leverage that will drive sustainable value creation for our shareholders.” (www.foodbev.com)
