Mondelez International reports solid organic net revenue growth and higher profit

By virtue of selling its coffee businesses to the new company group Jacobs Douwe Egberts in July 2015, company’s net revenue fell 16.8% to USD 6.46 bn. Profit attributable to Mondelez International rose 71% to USD 554 m, or 35 cents per share. According to the press release, volumes rose in some of its biggest markets such as North America and Asia Pacific, where it also raised prices. In Europe, its biggest market by revenue, volumes also rose but the company cut prices there.

To counter the falling sales and to spruce up profit, the company has been cutting costs and making its snacks and candies healthier. Additionally, the company announced that Mark Clouse, Chief Commercial Officer Mondelez, will leave the company to take over as Chief Executive of Pinnacle Foods Inc. Mondelez said it was not planning to get a replacement for Clouse.