Mondelēz: Sales pass milestone at Cadbury owner but profit melts
Sales at the owner of brands such as Cadbury, Toblerone and Oreo surged past the £2bn mark in 2023 but its profit was slashed, it has been revealed.
Uxbridge-headquartered Mondelēz UK, which is part of the wider Mondelēz International group, has reported a turnover of £2.21bn for its latest financial year, up from the £1.95bn it achieved in 2022.
However, newly-filed accounts with Companies House have also revealed that its pre-tax profit was cut over the same period from £131.4m to £88.1m.
As well as Cadbury, Mondelēz UK’s brands also include the likes of Belvita, Ritz, Philadelphia and Green & Blacks.
In separately-filed accounts, Birmingham-based Cadbury posted a turnover of £155.8m for the same financial year, up from £142.9m.
Its pre-tax profit also jumped from £33.8m to £42.3m over the 12 months.
Both sets of accounts come after City PM reported in August that sales at sports nutrition company Grenade, which is also part of the group, jumped towards £100m in 2023.
The company posted a turnover of £93.2m, up from £59.5m, while its pre-tax profit also increased from £8.2m to £12.1m.
Cadbury owner grows sales despite cost-of-living crisis
A statement signed off by the Mondelēz UK board said: “2023 was another successful year for the company with growth in turnover despite the cost-of-living crisis in the UK.
“We mad sure our brands and categories were in a robust position and we continued to prioritise safety.
“The year saw turnover growth of 13.25 per cent achieved 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.”
Mondelēz International is headquartered in the US and is listed on the Nasdaq.
For the 2023 financial year, the wider group reported a revenue of $36bn (£27.5bn), a rise of 14.4 per cent.