Mondelez rebounds from note ban impact in Q4

CEO says the India business delivered high single-digit growth in the first quarter of CY17

Global snacks maker Mondelez rebounded from the impact of demonetisation faster than expected, delivering high single-digit growth in the first quarter of 2017, company chairman & chief executive Irene Rosenfeld said in an earnings call on Wednesday. The world’s second-largest confectionary company reported first quarter revenue of $6.4 billion, ahead of analysts' estimates, while net income came in at $630 million, prompting Rosenfeld to say that the company was off to a solid start in 2017.

“In the Asia, Middle East and Africa (AMEA) region, Cadbury chocolate grew double digits in India, supported by solid innovations and strong marketing, while