17 Feb 2010

Kraft's quarterly profit triples

6:08 am on 17 February 2010

Fourth-quarter profit for Kraft Foods has more than tripled as sales rose in developing countries.

The giant US company made $US710 million (£453m) for the three months to 31 December, from $US178 million in the same period last year.

Sales climbed 3.2% to $US11 billion, with developing market sales up 11%.

Kraft earlier this month completed a takeover of Cadbury, to become the world's biggest confectioner.

Kraft's brands include Kenco and Maxwell House coffee, Oreo biscuits, Jacobs, Terry's Chocolate Orange and Toblerone, as well as cheese products such as Philadelphia and Dairylea.