Cadbury-owner Mondelēz’s UK profits plunge by a third
Mondelēz UK profits nose-dived in 2023 despite Cadbury sales and profits increasing.
Pre-tax profit plummeted 33% to £88.1m in the 12 months ending 31 December 2023 for the confectionery giant which owns Cadbury, Toblerone and Oreo, along with brands including Belvita, Ritz, and Philadelphia. However, sales jumped 13.3% to £2.21bn.
In a separate set of financial results, the confectionery manufacturer reported Cadbury’s pre-tax profit jumped to £42.3m over the year, while its sales increased 9% to £155.8m.
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The Mondelēz UK board said the year was “successful” despite challenges like the cost-of living crisis.
It said the turnover jump was thanks to “strong customer relations, marketing and innovation”.
“This was seen across our key brands, channels and customers whilst our marketing activity also drove strong consumer loyalty,” the board added.
Earlier this month, Mondelēz corporate venture capital arm SnackFutures bolstered its portfolio with the acquisition of a minority stake in non-HFSS doughnut brand Urban Legend.
2 Comments. Leave new
Good! It should rather sell Cote D’Or chocolate, not the inferior and overpriced cadbury.
For the first time in ages I bought a 95g bar of fruit and nut – the size up from the small chocolate bar type. Never again. Thought I’d make it last 2 visits, as it wasn’t the small size. it went in 1 with barely any fruit or nut, and a sliver of chocolate. Still only 88 Million in profit says it all. Shareholders and execs first, quality to the consumer last. Cadbury was a staple growing up, now it’s not even a luxury, it’s just a rip off. The Aldi version is as tasty and much more substantial.