Snack manufacturer Mondelez is raising its expectations after a strong quarter. Net revenue rose by 18 % as consumers “continue to prioritise” its branded products.
Consumers do not readily trade Milka chocolate and LU biscuits for a private label, as Mondelez’s quarterly results clearly demonstrate. The manufacturer saw its net sales rise by 18.1 % in the first quarter. Adjusted earnings per share rose 17.3 % at constant currency to 0.89 dollars.
“These results were driven by ongoing pricing execution to offset cost inflation and solid volume growth”, CEO Dirk Van de Put added. “We saw broad-based demand across both developed and emerging markets, as consumers around the world continue to prioritize our chocolate, biscuits, and baked snacks categories and brands.”
At the same time, Mondelez continues to reshape its portfolio. For example, the brand maker divested its Stimorol and V6 gums late last year, but in the meantime has acquired the Clif Bar and Ricolino brands. In view of the good results for the first quarter, the group is also raising its forecasts for the year: the Toblerone manufacturer is now expecting a 10 % growth in both turnover and profits.