Mondelez

Mondelez has been accused of hindering the cross-border trade of chocolate, biscuits, and coffee products within the European Union

The company said it will continue to operate its gum business outside the United States, Canada and Europe

Confectionary major Mondelez India Foods net profit declined 2.33 per cent to Rs 977.91 crore in FY22, while its revenue from operation/sales rose 15.89 per cent to Rs 9,242.05 crore, according to financial data accessed by business intelligence platform Tofler. Mondelez India Foods Private Ltd, which owns iconic brands such as Cadbury Dairy Milk, 5 Star and Gems, had reported a net profit of Rs 1,001.34 crore and revenue from operations of Rs 7,974.61 crore for the financial year ended on March 31, 2021. Its total income also went up 15.64 per cent to Rs 9,296.02 crore for the financial year that ended on March 31, 2022. It was Rs 8,038.10 crore in FY21. Mondelez India Foods' revenue from other income was down 14.99 per cent at Rs 53.97 crore in FY22. Its total expenses in FY22 were at Rs 7,970.77 crore. Mondelez India also provides malted food drinks under the Bournvita brand and powdered beverages under the brand Tang. Besides, it also sells biscuits under the brand name of Or

The maker of Dairy Milk chocolates decided to cut margins by 25-30% for the German-headquartered company

The Central Bureau of Investigation (CBI) on Wednesday carried out searches at several locations of Cadbury India Ltd, which is now known as Mondelez Foods Pvt Ltd

Within biscuits, this will be the fourth launch after Oreo in 2011, Bournvita biscuits in 2016 and Cadbury Chocobake cookies in early 2020

Sales grew in mid single digits, momentum continues in July

In an investor call, Dirk Van de Put, Mondelez's global chairman and CEO said the firm went "absolutely blank" in the first phase of the lockdown, which began on March 25

Mondelez pushes its biscuit brand out of the playpen, looks for a more meaningful association with consumers

In July, Mondelez launched a version of its popular Cadbury Dairy Milk with 30% less sugar in Britain, which McGrath said was selling well and was being extended into India

Firm has tied up with various regional dosa and sweets makers in Chennai to come up with chocolate dosa, Mysore Pak and other products

Last year, chocolate sales in India jumped 15.4% after the government, keen to win re-election, overhauled its national sales tax for many items

Mondelez, whose India top line is Rs 6,100 crore, is tapping this market by launching products across the price pyramid

Mondelez India has adopted a two-pronged strategy to grow its business

The unit will be part of a network of 11 centres coming up across the globe, nine of which are already operational

According to analysts, Mondelez derives around 40 per cent of its global revenue from Europe

E-commerce is now important for the chocolate major as India is identified as a key market to achieve its $1 billion global online sales target by 2020

Firm to add new products under 5Star, other brands

In a top-level rejig with global implications, Mondelez International's long-standing chief executive officer, Irene Rosenfeld, will step down in November, the company said. Allowing a new chief executive, Dirk Van de Put, currently with Canadian major McCain Foods, to take over.Rosenfeld, with the company for 11 years, will continue as chairman of the board of directors till March 31, 2018, at which point she will retire.The announcement comes when speculation about a possible takeover by the Warren-Buffett-led Kraft Heinz has been growing. FT Dealreporter said Kraft Heinz was now pursuing Mondelez, though the company did not confirm or deny the news globally.Speculation about Kraft Heinz and Mondelez coming together has been doing the rounds since the former's audacious bid for Unilever in February failed. Mondelez itself was looking to acquire Hershey's last year, which did not materialise, pushing it closer to Kraft Heinz, analysts and sector experts have said.Mondelez, earlier ..

CEO says the India business delivered high single-digit growth in the first quarter of CY17