US confectionery giant Mondelez International has raised its full-year sales guidance on the back of positive third-quarter results.
The Cadbury and Oreo brands owner now expects organic net revenue growth for 2019 of more than 3.5%, up from the previous estimate of over 3%.
In the three months to 30 September, Mondelez saw a 1.1% increase in net revenues – on a year-on-year basis – to US$6.36bn, while net profits were up from $1.26bn to $1.42bn. Operating income climbed from $737m to $876m.
Mondelez said the recorded increase in revenue reflected “balanced volume/mix and pricing” but was offset by unfavourable currency impacts.
Dirk Van de Put, the company’s chairman and CEO, said: “We are pleased to report another quarter of strong top-line growth, continuing the momentum of the first half, enabling us to further increase our outlook for the year.
“Our strategy to accelerate growth by focusing on the consumer, driving operational excellence and unlocking the potential of our local business units is delivering good results from both local and global brands.”
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Mondelez pointed to key strategic initiatives such as “winning in fast-growing channels and markets worldwide including gaining share in alternative channels like Discount and Club in the US”.
It also said it had reached “the next level of distribution in China” where the company’s biscuits and gum products are now sold by 1.5m and 1m stores, respectively.