Branded food and beverage giant Kraft Foods has posted pro forma diluted earnings per share (EPS) up 17% to US$0.55 for its Q2 2002, and pro forma net earnings up 17.1% year on year to US$960m. "Kraft delivered strong earnings growth in the quarter, keeping us in line with our earnings projections for the full year," said co-CEO Betsy D. Holden: "The Nabisco integration, our productivity programmes and new product initiatives are all tracking well, and we are benefiting from lower interest expense. We continue to expect pro forma diluted EPS for the year in the range of US$2 to US$2.05, a 14% to 16% increase versus 2001."