Chocolate earnings climb 9 per cent for Kraft

8 Aug

Chocolate earnings climb 9 per cent for KraftKraft, in its second quarter results, reports continuing the challenges ahead for its gum and candy division lie in developed markets, and claims the Cadbury takeover is a fundamental earnings driver, with its global chocolate earnings up 9 per cent.

Net revenues for the food giant were $13.9bn, up 13.3 per cent. Kraft Foods North America posted earnings increase of 2.5 per cent while Kraft Foods Europe “continued to generate strong top- and bottom-line momentum in the quarter” to show a hike in revenues of 26.2 per cent.

Net revenues in developing markets jumped 22.3 per cent, added the Illinois based group.

Kraft CEO, Irene Rosenfeld, in a conference call on the results said the 6 per cent growth recorded for its global snacks division “is right in line “with the growth target of mid- to high-single digits target laid out last autumn.”

The global snacks business will not be independent of high-margin North American grocery business, following on from the decision announced by Kraft in tandem with posting its Q2 results, that it is splitting the company into separate entities.

Article posted by Spencer Samaroo, Managing Director, Moo-Lolly-Bar
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Source: Confectionery News

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