Oct 29 (Reuters) - Mondelez International ( MDLZ ) on

Tuesday beat Wall Street expectations for third-quarter revenue

and profit, as the Cadbury parent's efforts to provide its

products at different price points drove a sequential

improvement in sales volumes.

Demand for the company's products held steady, as the prices

of its candies and biscuits ranging from $3 to $4 helped in

appealing to customers, who have been going for cheaper

alternatives.

The company's quarterly volumes rose 0.3 percentage point,

while prices were up 5.1 percentage points.

Benefits from lower manufacturing costs and higher product

prices further helped the Oreo biscuits maker in expanding its

margins.

Its quarterly adjusted gross profit margin rose 230 basis

points to 40.5%.

Packaged food companies are reducing prices to rebuild

consumer trust and stimulate demand among budget-conscious

shoppers who have been deterred by earlier price hikes driven by

rising input costs.

Mondelez ( MDLZ ) echoed recovery in volumes as its peer General

Mills, which saw demand improve in certain categories.

Strong demand recovery in regions including Europe,

North America and resilience in emerging markets such as China,

Brazil and India helped the Toblerone maker overcome dipping

volumes in Latin America.

Shares of the company, which maintained its annual

revenue and profit forecast were up about 3% after the bell.

The company posted net revenue of $9.20 billion in the

reported quarter, compared with analysts' average estimates of

$9.11 billion, according to data compiled by LSEG.

It reported an adjusted profit of 99 cents per share,

topping estimates of 85 cents per share.

Mondelez ( MDLZ ) also said that it has agreed to acquire a majority

stake in Evirth, a manufacturer of cakes and pastries in China.