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Mondelez raises sales forecast on emerging markets strength -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Oreo cookies are displayed before the Mondelez International logo. This illustration was taken on July 26, 2021. Photo taken on July 26, 2021. REUTERS/Dado Ruvic/Illustration

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(Reuters] -Mondelez International Inc has raised its annual revenue forecast for the second quarter. This was due to price increases in biscuits, snacks and strong demand from emerging market markets.

Oreo’s cookie company has noticed a rebound in demand from China, India and Brazil after last year’s sluggish sales, when consumer spending suffered greatly due to the effects of the pandemic.

The chocolateier expects a 4.5% increase in organic net revenues for the full year, as opposed to its previous forecast of a more than 4% rise.

According to Refinitiv’s IBES data, analysts expected organic revenue growth of 4.2% on an average.

The third quarter’s net revenue was $7.18 billion, up from $6.67 million a year earlier. This is higher than the analysts’ average estimate at $7.03 billion.

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