Snacking company Mondelēz International has reported a 5.5% increase in net revenue in the first financial quarter of 2018, equalling $6.77 billion and beating analysts' estimates.
The company, which sells 'power brands' Oreo, Cadbury Dairy Milk, and Milka, also saw its organic net revenue grow by 2.4%.
Its adjusted operating income rose 20 basis points, to 16.7%, while its adjusted earnings per share saw a boost of 9.6% on a constant currency basis, to $0.62.
“We had a good start to the year with improving top-line momentum and continued progress in margin expansion driven by strength in Europe and AMEA,” said Dirk Van de Put, chairman and CEO.
“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.”
Mondelēz International'd brands are approximately 160 countries with 2017 and the company has reported net revenues of approximately $26 billion.
© 2018 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click subscribe to sign up for the Checkout print edition.