Sweet year for Cadbury owner
Cadbury owner Mondelēz International enjoyed a “great” 2019, delivering growth across its global markets.
The confectionary giant increased sales by 4%, although the impact of currency movements resulted in a slight reduction in its reported turnover of $25.9bn.
Dirk Van de Put, chairman and chief executive of Mondelēz International, said: “2019 was a great year for Mondelez International. It was the first full year under our new consumer-centric growth strategy.”
However coronavirus is causing a concern for its performance in China. It does not yet know the impact on sales during the key Chinese New Year period, while its factories are going to be shut for at least 10 days as a precaution.
Van de Put added: “Our solid execution and targeted investments in both our global and local brands enabled us to meet or exceed all of our financial targets for the year.”
European sales were up 3.7%, led by “strong volume-driven growth in developed markets such as the UK and Germany”.
Mondelēz is upbeat about the continued impact of its new strategy, with Van de Put confident it “will create a sustained momentum in our business, allowing us to deliver on our long-term financial targets in the years to come”.
