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Mondelez International Inc. (MDLZ)

Closing Price Change:
-$1.05
Closing Price:
$50.08
Market Cap:
$72,666m

Cadbury may cut chocolate sizes as Brexit effect bites

24 Mar 17

LONDON (ShareCast) - (ShareCast News) - Britons could be about to get less bite for their buck as US-owned chocolate maker Cadbury has indicated that its products could be trimmed in size or increased in price post-Brexit.
Cadbury's UK chief Glenn Caton told the Guardian that the country's exit from the European Union may well have an adverse affect on the business's profitability.

He stressed however that the UK would still be considered the "home of chocolate manufacturing".

"There are obviously challenges and there are three things that we really care about in the context of the Brexit negotiations," Caton told the publication.

"First of all is making sure we have a stable and thriving UK economy. If the economy is growing all businesses benefit from that. The second is ensuring that there is no new, more complex regulation and that there is free movement of goods and minimal barriers to trade."

Cadbury is currently owned by US snack giant Mondelez International, which has faced criticism over the fact that it did not pay tax in 2014 or 2015, the last two years for which there are figures.

The executive added that the company will have to adapt after Britain's decision to leave the EU last June, as many others will have to.

"All we can do is to move to the times that we face," Cotan said. "I am confident though because a 200m investment in the last five years is not something we are going to walk away from. I can't guarantee anything forever but am I confident that we are still going to have world-class manufacturing and research sites in the UK for the long term? I do feel confident of that."

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are end of day values only.

 

Market Data

Currency US Dollars
52 Week High $59.68
52 Week Low $41.93
Shares Issued 1,451.00m
Market Cap $72,666m

Dividends

No dividends found