PepsiCo, Mars See Business Boom in Russia After Staying Behind
- Mondelez Russian sales rose 38% in 2022 to $1.1 billion
- Western companies under public pressure to exit Russia
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Mondelez, Mars Inc. and PepsiCo Inc. had roaring sales in Russia last year, underscoring the strength of the Russian consumer more than a year after President Vladimir Putin invaded Ukraine.
Sales for Mondelez Rus’, which sells Jubilee biscuits and Alpen Gold chocolate, rose 38% last year to 92 billion rubles ($1.1 billion) under local accounting standards, according to a recent filing with Russia’s tax authority. The Cadbury chocolate maker ended up more than doubling its overall profit compared to 2021.