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July 25 (Reuters) – Mondelez International Inc. on Wednesday reported a better-than-expected quarterly profit as it was sold more Cadbury chocolates and Oreo biscuits in Europe and North America, while keeping a lid on costs.
Shares of the world's No. 2 pink make up 5.04 percent to $ 43.7 in extended trading on Wednesday as the company's Power Brands business registered fourth straight quarter of gains.
The business, which houses Cadbury, Milka and Trident Gum, reported second-quarter sales of $ 4.55 billion, a 5.2 percent rise from a year earlier. It accounted for nearly 75 percent of its total revenue.
Mondelez's performance comes at a time when food packaging companies are facing a growing number of challenges.
The company has been operating more efficient manufacturing plants and implementing zero-based budgeting, which requires more than one of the following in 2018. adjusted gross profit margin up to 60 basis points to 40.4 percent. Net income attributable to the company fell to $ 323 million, or 22 cents per share, in the second quarter ended June 30 from $ 498 million, or 32 cents per share, a year earlier.
Excluding items, the company earned $ 56 per share, based on Thomson Reuters I / B / E / S.
Net revenue rose about 2 percent to $ 6.11 billion, but fell marginally short of estimates. (Reporting by Indranil Sarkar and Nivedita Balu in Bengaluru; Editing by Anil D'Silva)
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