USA: Kraft Foods reaffirms earnings expectations for 2002
Betsy Holden and Roger Deromedi, Co-CEOs of branded food giant Kraft Foods, revealed yesterday [Thursday] that the company's performance continues to be strong, and that Kraft is on target to achieve its earnings projections for the year. Holden and Deromedi spoke at the annual Consumer Analyst Group of New York (CAGNY) Conference, held in Scottsdale, AZ. They reaffirmed that Kraft continues to project strong performance in 2002, with worldwide volume up 3% to 4% and diluted earnings per share up 14% to 16% to a range of US$2 to US$2.05. Risks to this projection do however include the impact of currency and economic weakness in certain international markets.
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