Mondelēz raises FY forecast after strong Q2 | Progresiv
Mondelēz International has raised its sales forecast for the 2019 fiscal year, helped by improved results in its second quarter. 
For the three months to end-June, net revenue grew by 4.6% on an organic basis to 6.06 billion dollars (-0.8% reported), even as volumes grew by 1.6%. The group said it was helped by a 3 percentage point rise in prices, as well as increased demand from markets such as China, India, Russia, and Mexico.
The growth was driven by a 10.9% rise in organic revenues across Latin America, despite a 0.6% decline in volumes. Mondelez also recorded modest revenue growth in North America (+2.5%), Europe (+3.9%), and Asia, Middle East & Africa (+4.7%).
The results meant its revenue for the first half rose by 4.1% to 12.6 billion dollars on an organic basis (-2.2% reported), on volume growth of 1.6%.
CEO Dirk Van de Put said the performance “demonstrates the potential of our strategy to accelerate volume-driven top-line growth in both developed and emerging markets. Our more consumer-centric mindset is driving investments in advertising and promotion of our global and local brands, as well as accelerated innovation and improved distribution capabilities.”
Mondelez now expects full-year revenues to grow by more than 3% on an organic basis, up from a previous forecast of 2%-3% growth. It also expects adjusted earnings per share to grow by 5%, up from a previous forecast of 3%-5% growth. (www.kamcity.com)
