“Accordingly, the company has pivoted to increase promotional spending to protect its market share. While we expect high cocoa prices to continue to adversely impact its margins, the effect could ease in 2HFY2025, based on Mondelez’s outlook,” they add.
Analysts at DBS Group Research and CGS International have kept their “hold” and “add” calls on Delfi after its 3QFY2024 ended September results release.
DBS’s Zheng Feng Chee and Andy Sim note that Delfi’s 9MFY2024 results revealed challenges facing the company in maintaining the current margins without losing significant market share.
