Net profit of 98.8% grows Mondelez in Q1

The American food company Mondelez International recorded net income of $ 324 million ($ 0.19 per share) in the first quarter of 2015, almost double (98.8%) of the result presented in the same period of the previous year, to $ 163 million ($ 0.09 per share).
On the same basis of comparison, the company's revenue reduction of 10.2% to $ 7.76 billion, up from $ 8.64 billion. Analysts queried by Thomson Reuters expected profit of $ 0.37 per share and revenue of $ 7,72 billion.
The company said higher prices helped offset the effect of the dollar during the period. About 80% of Mondelez revenue is in foreign currencies, which makes the company vulnerable to strengthening the American currency.
In the last quarter, sales dropped in almost all segments, with a fall of 17% in Europe, Middle East and Africa. Already in North America there were high of 0.9%.
With the continued weakening of consumption, the Mondelez and other food companies are under increasing pressure to improve profit, cutting overheads, closing underutilized factories and focusing on basic products.
Last year, the Mondelez announced plans to unite his coffee business with the D.E. Master Blenders 1753 in Europe, in an attempt to create a company strong enough to compete with Nestle in the segment of coffee capsules.
In the agreement, the Mondelez received $ 5 billion and 49% stake in the company, with the name of Jacobs Douwe Egberts.
The agreement is part of a restructuring program to $ 3.5 billion that should, yet, until 2018, cover the payment of compensation and other charges.