Food Business News - August 8, 2017 - 1
August 8, 2017 | foodbusinessnews.net
STORY ON PAGE 37
IN THIS ISSUE
The Coca-Cola Co. is betting
big on Zero Sugar in U.S.
Mondelez sees sales momentum
building in second half of year
Hershey investing to keep pace
with changing retail market
Serving protein, whole grains
and taste in school meals
DEERFIELD, ILL. - Robust quarterly earnings
growth and margin expansion at Mondelez
International, Inc. were coupled with decreasing revenues during the second quarter of fiscal 2017. The sales weakness was
compounded by the effects of a cyberattack
that disrupted business at Mondelez together with many other global corporations.
Net income at Mondelez International in the quarter ended June 30 was
$498 million, equal to 33c per share on the
common stock, up 7% from $464 million,
or 30c per share, in the second quarter
of 2016. Net sales were $5,986 million in
the second quarter, down 5% from $6,302
million in the second quarter last year.
The June cyberattack reduced sales
during the quarter by about 2.3% (about
$140 million) and resulted in about $7.1
million in expenses.
"We delivered strong margin expansion and double-digit e.p.s. (earningsper-share) growth in the quarter despite
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