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April 20, 2005

USA: Kraft Foods Q1 sales, profits higher

Kraft Foods Inc. has announced rises in revenues and net earnings for the first quarter ended 31 March 2005.

Kraft Foods Inc. has announced rises in revenues and net earnings for the first quarter ended 31 March 2005.

Net revenues in the first quarter were $8.059bn, compared with $7.565bn in the same period in 2004. Net earnings of $713m compare with $560m a year earlier.

“Kraft’s first quarter results reflect solid progress against our Sustainable Growth Plan,” said Roger K. Deromedi, CEO. “We maintained our top-line momentum while investing in our brands, adjusting our portfolio further, growing our business in developing markets, and continuing to drive out costs.”

“On the top-line, we continued to drive favourable mix, with revenue growth outpacing volume growth. While increased prices also contributed to revenue growth, we maintained price gaps within targeted ranges and grew market share across our portfolio,” he said.

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