The number one food company in the US, Kraft Foods, has reported third-quarter net earnings of US$869m, up 73% from $503m a year earlier.

The company, which also reported a rise in revenue of 2.8% to $7.2bn, said that stronger performances in the beverages, desserts and cereals sectors offset weaknesses in sectors such as cheese and meats.

The Q3 figures met company expectations.