Cadbury maker Mondelez forecasts bigger drop in annual profit as demand weakens

Core Insights - Mondelez International has forecasted a steeper decline in annual profit due to reduced consumer spending on its premium chocolates and snacks in North America [1] - The company is facing increased costs for key ingredients, which is impacting its profitability [1] Company Summary - Mondelez International is experiencing a downturn in sales as consumers are cutting back on purchases of its higher-priced products [1] - The forecast indicates a significant challenge for the company in maintaining profit margins amid rising costs [1] Industry Summary - The snack and confectionery industry is witnessing shifts in consumer behavior, particularly in North America, where price sensitivity is increasing [1] - Higher ingredient costs are a common challenge across the industry, affecting profitability for major players like Mondelez [1]