Business · Companies · 8 hrs ago
Mondelez India revenue grows more than 20% as company expands distribution
Mondelez said its India revenue grew more than 20% year on year in the quarter ending in September.
The company, which makes Cadbury chocolates and Oreo biscuits, said India remains a key source of growth.
It added about 130,000 outlets in the country during the quarter as it expanded its reach into India’s fragmented retail market.
Mondelez also sees room to improve existing stores and increase the number of its products they stock.
Higher freight, fuel and commodity costs are a concern, with the company also pointing to rising dairy, oil and packaging costs.
The company said it is absorbing these additional costs within its existing financial outlook.
Mondelez plans to keep expanding its distribution and retail presence in India.
Mondelez International reported more than 20% year-on-year revenue growth in India in the September quarter.
The company added about 130,000 outlets in India during the third quarter.
It plans to keep expanding distribution and retail presence, including by upgrading stores and increasing the products they stock.
Chief executive Dirk Van de Put said India remained a key growth engine despite inflationary pressures and a global slowdown.
Mondelez said it was absorbing higher freight, fuel and commodity costs within its existing financial outlook.
- Who
- Mondelez International, which makes Cadbury chocolates and Oreo biscuits.
- What
- Its India revenue grew more than 20% year on year in the September quarter, and it added about 130,000 outlets in the third quarter.
- When
- In the September quarter; the outlet additions were during the third quarter.
- Where
- India.
- Why
- Mondelez attributed its performance to efforts to improve product availability and expand distribution.
This story does not have two clearly opposing sides.
Mondelez India recorded more than 20% year-on-year revenue growth.
The company added about 130,000 outlets in India.
Chief executive Dirk Van de Put told investors that the company felt good about consumers in emerging markets.
- India revenue growth
- More than 20% year on year in the September quarter
- New outlets
- About 130,000 added in the third quarter
- Chief executive
- Dirk Van de Put
- Chief operating officer
- Luca Zaramella
- Additional costs
- Freight, fuel, commodity, dairy, oil and packaging costs
What people are saying
But overall, we feel good about the consumer in emerging markets at this stage
The reason why those numbers are being delivered is because we pursue incremental distribution opportunities quite rigorously
Between the incremental points-of-sales, the upgrade that we have on the current universe, the fact that we can increase the number of items that are carried by those stores...I think the opportunity is quite sizeable