Mondelez, the snack maker behind Cadbury and Oreo, has laid down new financial targets as it tries to boost flagging sales.
Since its separation from Kraft in 2012, Mondelez has been grappling with big shifts in consumer tastes. Shares have underperformed the S&P 500 by a quarter in the past two years.
Dirk Van de Put, who was appointed chief executive last year, issued new "long-term" targets at an investor day in Boston on Friday, including organic net revenue growth of at least 3 per cent and "high-single digit" expansion in "adjusted" earnings.
Initiatives include increased investment in ecommerce and greater exposure to higher-growth geographies, potentially through M&A.
The company left its sales outlook for this year unchanged, predicting organic net revenue expansion at the high end of a 1-2 per cent range. It expected this to increase to 2-3 per cent next year. – Copyright The Financial Times Limited 2018