Tasty revenue rise for Cadbury and Grenade owner

Food giant Mondelez, which owns Cadbury and Grenade, has seen its revenues increase by 7.8% during its third quarter.

The firm’s European business reported a turnover rise of 7.4% to $2.71bn – a result Mondelez put down to favourable currency, and incremental sales from the company’s acquisitions of Hu, Grenade and Gourmet Food.

Gross profit for the period rose to $32m.

“We delivered strong revenue and earnings growth in the third quarter with broad strength across both developed and emerging markets. Demand for our categories and brands remains vibrant and volume growth is solid as we implement pricing to reflect higher inflation,” said Dirk Van de Put, chairman and chief executive officer.

He added: “We expect elevated inflation and logistics volatility to persist, but remain confident in our plans to deliver on our financial algorithm, supported by compounding brand investments, pricing as necessary, distribution expansion and our robust ESG agenda, including our recently announced target of net zero emissions by 2050.”