Mondelēz has reported full-year organic revenue growth in chocolate below the overall market and expects the macroeconomic environment in emerging markets to remain challenging.
Gum sales are still down for the category's second largest player, but the segment might be showing its first signs of recovery, according to Mondelez’s CEO.
Mondelēz International was weighed down by operational issues in Brazil and Russia in the third quarter (Q3) which harmed overall performance in its first results since it split from Kraft Foods in October.
Unite the Union has slammed Kraft ceo Irene Rosenfeld for failing to appear before a parliamentary select committee and accused her of “massive arrogance” and “a total disregard” for her former Cadbury staff.
Kraft, in its second quarter results, reports continuing challenges ahead for its gum and candy division in developed markets, and claims the Cadbury takeover is a fundamental earnings driver, with its global chocolate earnings up 9 per cent.
Unite has written to Kraft ceo Irene Rosenfeld asking her to fulfil a legal obligation to consult union leaders on any changes to pay and conditions for Cadbury workers.
A member of the House of Commons select committee that questioned Kraft executives on the Cadbury takeover this morning has told FoodManufacture.co.uk that he is concerned by the company's failure to commit to safeguarding UK jobs beyond 2012.
Kraft Foods’s reneging on a decision to keep a Cadbury factory near Bristol in the UK open will result in the loss of 400 jobs and has drawn criticism from politicians and unions alike.
Hershey has confirmed that it is “reviewing its options” regarding a possible joint bid with Ferrero for British confectioner Cadbury, following media speculation about talks yesterday.
One of the leading investors in Cadbury has revealed he would consider a bid from Kraft if it were in the region of 820p per share, according to recent media reports.
