Low demand in Europe leaves bitter taste for Mondelez

Owner of Cadbury reports 18% fall in quarterly revenues

Mondelez International, the maker of Cadbury chocolates and Oreo cookies, has reported an 18 per cent fall in quarterly revenue, hurt by a strong dollar and lower sales in Europe, its largest market.

The company’s net revenue fell to $6.85 billion in the third quarter to the end of September from $8.34 billion a year earlier.

Revenue fell for the eighth straight quarter. Net income attributable to the company rose to $7.26 billion, or $4.46 per share, from $899 million, or 53 cents per share, a year earlier, primarily due to a $7.12 billion gain on its coffee business divestitures.

- Reuters